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U.S. Futures Slide After Trump Says He'll Start Sending Tariff Letters Today Setting Levies Up To 70%

1. S&P 500 futures dropped nearly 0.6% amid tariff announcement. 2. Trump plans to send unilateral tariff letters starting next month. 3. Tariffs could range from 10% to as high as 70%. 4. U.S. markets closed for Independence Day following futures decline. 5. European stocks also slid due to tariff news.

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FAQ

Why Bearish?

Unilateral tariffs typically trigger negative market reactions, as seen in past trade disputes. A historical example includes the market downturn during the U.S.-China trade tensions.

How important is it?

Tariff announcements directly affect trade dynamics and market outlook, influencing S&P 500 earnings.

Why Short Term?

Immediate reactions in futures and global markets suggest short-lived volatility but could impact longer-term investor sentiment.

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