New U.S. tariffs hit 100+ nations, 40% rate on routed goods, Yale says average now 18.4% — highest in 90 years. Dow futures sink 400 pts
Stock futures opened sharply lower. Dow futures shed about 0.8%, S&P 500 futures dropped 0.9%, and Nasdaq 100 futures fell 1%. Earnings weakness added pressure, but Trump’s tariff shock dominated headlines. “The average tariff rate roughly on reciprocal is going from about 2.5% to 15%,” said Vasu Menon, managing director at OCBC. https://www.reuters.com/business/view-investors-react-trumps-new-reciprocal-tariffs-announcement-2025-08-01/ President Trump’s …