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Live Updates Live Coverage Updates appear automatically as they are published. Bottom Falls Out 12:48 pm by Gerelyn Terzo The bottom has fallen out of the stock market once again after President Trump revealed whopping 25% tariffs on Japan and South Korea imports, beginning on Aug. 1. These tariffs are on top of existing sector-specific levies that have already been set into motion. Over the weekend, President Trump began ramping up his tariff talk involving BRIC nation policies, saying, “Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy.” The Nasdaq Composite is now falling 0.91% on the day. AI Consolidation 11:17 am by Gerelyn Terzo Consolidation is afoot in the AI industry. In today’s Merger Monday, AI company CoreWeave announced it will acquire Core Scientific in a blockbuster $9 billion stock deal. The target company builds data center infrastructure built to scale for high-powered capacity. Both stocks are under pressure. CoreWeave shares are down 2.1% today, while Core Scientific is losing 14%. The Nasdaq Composite is now down 0.69%. Citi Bullish on Chip Stocks 9:59 am by Gerelyn Terzo Citi analysts are bullish on chip stocks. Citi analysts have lifted their price target on Nvidia (Nasdaq: NVDA) by $10 to $190 per share, keeping the rating at “buy.” Last week, Nvidia stock achieved fresh all-time highs as its market cap marches closer to the massive $4 trillion threshold. Citi analysts also increased their price target on Advanced Micro Devices (Nasdaq: AMD) by $25 to to $145 per share with a continued “neutral” rating. This article will be updated throughout the day, so check back often for more daily updates. The markets are off to a slow start after the Nasdaq Composite and S&P 500 clinched new highs last week. Treasury Secretary Scott Bessent has vowed that there are further trade agreements in the pipeline, giving markets reason to be cautiously optimistic. But President Trump has escalated fears by threatening to impose an additional 10% tariffs on trade partners that support what he considers “anti-American” BRIC policies. Most sectors of the economy are under pressure this morning, including a 1.4% decline in consumer discretionary stocks. On the economic front, White House economic adviser Kevin Hassett says the chance of a recession is zero. Meanwhile, President Trump signed his Big Beautiful spending bill into law on July 4, advancing his administration’s ambitious agenda, but the markets have had a great deal to process over the long weekend. Tesla (Nasdaq: TSLA) stock is taking it on the chin, down 7.4%, after CEO Elon Musk reasserted himself in U.S. politics, this time by creating a new political party called the American Party. Investors are increasingly distancing themselves from Musk as the tech mogul becomes more spread thin and his attention is diverted from his companies. Here’s a look at the performance as of morning trading: Dow Jones Industrial Average: Down 94.18 (-0.21%) Nasdaq Composite: Down 133.68 (-0.63%) S&P 500: Down 25.16 (-0.41%) Market Movers Data mining phenomenon Palantir Technologies (Nasdaq: PLTR) stock is posting modest gains today and remains in the headline spotlight. SpaceX competitor Rocket Lab (Nasdaq: RKLB) is extending its gains today, seemingly benefiting from the scrutiny around Musk of late. BigBear.AI Holdings (NYSE: BBAI) is under pressure, falling 3.3% today amid some profit taking. This stock is up a whopping 67.3% year-to-date. The post Live Nasdaq Composite: Markets Tread Cautiously Amid Trade Deal Angst appeared first on 24/7 Wall St..
