Wall Street Opens Lower and Bond Yields Sink Following Weak Hiring Numbers and New Tariffs
NEW YORK, UNITED STATES, JUL 31 – New U.S. tariffs raised costs by up to $1.1 billion for Apple and Amazon shares dropped 7.6%, while investors awaited July jobs data to assess Federal Reserve policy.
- On Friday, Wall Street futures declined, weighed by new U.S. duties on trading partners as investors awaited a key jobs report to gauge the Federal Reserve.
- China faces an August 12 deadline to reach a durable tariff agreement after preliminary deals in May and June, amid trade tensions.
- The CBOE Volatility index jumped to a more than two-week high of 18.40 points while Amazon slid 7.6% in premarket trading.
- Despite a 110,000 rise in July payrolls and a jobless rate increase to 4.2%, investors ramped up bets on a September rate cut.
- Amid mixed signals, Microsoft briefly topped $4 trillion in market value, becoming only the second company after Nvidia, and Apple warned U.S. duties would add $1.1 billion this quarter.
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