Stock futures fall after Trump announces high tariffs on a group of nations: Live updates

U.S. stock futures fell overnight after U.S. President Donald Trump announced new tariffs on 14 countries, and extended the tariff deadline to Aug. 1.

Dow Jones Industrial Average futures declined by 127 points, or 0.29%. S&P 500 futures and Nasdaq 100 futures dipped 0.24% and 0.19%, respectively.

Those moves come after Trump posted more letters late Monday afternoon that brought the total number of countries facing steep tariffs on Aug. 1 to 14. Together, the countries hit by new tariffs are Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Laos, Malaysia, Myanmar, Serbia, South Africa, South Korea, Thailand and Tunisia.

Trump also signed an executive order extending the “reciprocal” tariff deadline to Aug. 1 from Wednesday, saying the decision was “based on additional information and recommendations from various senior officials.”

Wall Street is coming off a losing session for the major averages. The 30-stock Dow tumbled more than 400 points, or 0.9%. The S&P 500 fell 0.8%, while the Nasdaq Composite slid 0.9%.

Stocks slid as investors tracked rapid-fire developments on the trade front. Monday's developments are expected to be the first of several this week. White House press secretary Karoline Leavitt said more letters can be expected in the coming days.

The president also threatened an additional 10% tariff on countries that align with the “Anti-American policies” of the BRICS nations which include Brazil, Russia, India and China.

Even with the pace of the announcements, many investors remain confident that the stock market has moved past the worst of the tariffs, hopeful that the upcoming earnings season could be the catalyst for an S&P 500 at all-time highs to continue its advance.

“If you go through the details, I don't even know if anybody understands the difference between what was announced today, what was there previously, and if it will actually be implemented, and which companies it actually impacts,” Trivariate Research CEO Adam Parker said Monday on CNBC's “Closing Bell.”

“So, I think it's just a little bit of selling as we got the highs, and kind of recalibrating before July earnings season,” Parker added. “But I don't think this is the sign of a new regime at all.”

Dividend growth slowed in the second quarter, S&P Dow Jones Indices found

Companies tightened their purse strings over dividend increases in the second quarter amid worries over the economy, according to a report from S&P Dow Jones Indices.

Dividend net changes – that is, increases minus decreases – for U.S. domestic common stocks rose $7.4 billion in the second quarter of this year. That compares to a $16 billion increase in the year-ago period and a $15.3 billion gain in the first quarter of 2025.

“Dividend growth has continued, but is noticeably slower than had been hoped for, though it is in line with expectations given the economic certainties,” said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, in an e-mail.

He added that while this uncertainty doesn't seem to have stopped increases, it seems to have capped the size of these hikes.

Silverblatt noted that dividend increases may be limited as companies take a wait-and-see approach toward global government policy that's constantly changing and worries over employment and inflation.

He also said that the third quarter is expected to start with an improvement from major banks, which have lifted their dividends in light of the Federal Reserve's stress test results.

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Trump announces steep tariffs on 14 countries

U.S. President Donald Trump announced new tariffs on 14 countries to go into effect Aug. 1 that were more severe than investors were expecting. Those countries hit by new tariffs are Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Japan, Laos, Malaysia, Myanmar, Serbia, South Africa, South Korea, Thailand and Tunisia.

The countries were hit with import duties that are similar to, and in some cases even higher than, what Trump first announced back in April in his so-called “reciprocal” tariffs. Japan, for example, was hit with a 25% levy that's a little bit above the 24% rate Trump initially said in April. Malaysia was hit with a 25% tariff rate, also higher than the previous 24% level.

Stock futures open lower

Stock futures opened lower Monday night.

Dow Jones Industrial Average futures declined by 87 points, or 0.19%. S&P 500 futures and Nasdaq 100 futures dipped 0.16% and 0.15%, respectively.