Tariffs Dampen Stock Market Rally After Nvidia Milestone
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US stock futures dipped Thursday, following President Trump's announcement of a 50% tariff on Brazilian goods starting August 1st. This countered Wednesday's rally fueled by Nvidia reaching a $1 trillion market cap. Despite the Nasdaq hitting a record high, concerns remain about tariffs and fiscal fears. A Treasury sale of 10-year notes yielded 4.362%, easing some fiscal concerns, though the Fed remains divided on interest rate cuts.
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