Major indices closed lower as markets react to increase tariff fear ...Middle East

A series of letters went out to Japan and South Korea, Malaysia, Kazakhstan, South Africa, Laos, Myanmar that tariffs would increase effective August 1 if trade deals are not advanced by then.

Shares were already lower on the day but saw additional pressure after the announcements.

Dow Industrial Average fell -422.17 or -0.9% at 44406.36.S&P index fell -49.37 points or -0.79% at 6229.98.NASDAQ index fell -188.59 points or -0.92% at 20412.52..

The small-cap Russell 2000 fare the worst with a -34.81 point decline or -1.55% at 2214.22..

Some of the big losers today included:

Arm (ARM): -5.29%

First Solar (FSLR): -4.31%

ARK Genomic Revolution (ARKG): -4.12%

Papa John's (PZZA): -2.96%

FedEx (FDX): -2.53%

General Mills (GIS): -2.47%

Taiwan Semiconductor (TSM): -2.42%

Roblox (RBLX): +4.03%

Palantir (PLTR): +3.54%

Uber Technologies (UBER): +3.25%

Snowflake (SNOW): +1.92%

Charles Schwab (SCHW): +1.26%

Walmart (WMT): +1.01%

Fortinet (FTNT): +0.94%

This article was written by Greg Michalowski at www.forexlive.com.

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