US stocks experienced their worst day in three weeks, plummeting after President Trump announced new tariffs on Japan, South Korea, and other countries. The Dow fell 422 points (0.94%), the S&P 500 dropped 0.79%, and the Nasdaq decreased 0.92%. These tariffs, ranging from 25% to 40%, are set to take effect August 1, although the White House suggests they are open to negotiation. While Asian markets showed a muted response initially, analysts offer differing perspectives on the long-term impact, with some suggesting the tariffs are more posturing than policy and others expressing concern about market complacency.

Prepared by Christopher Adams and reviewed by editorial team.