New York CNN —
US stocks fell Monday as President Donald Trump announced he would impose a 25% tariff on Japan and South Korea beginning August 1.
Stocks had been sliding earlier and dropped lower after Trump’s announcement. The Dow was down as much as 530 points, or 1.2%; the S&P 500 fell 0.87% and the tech-heavy Nasdaq Composite was 0.9% lower.
Trump posted two letters on Truth Social outlining a 25% tariff on Japan and South Korea set for August 1, separate from sectoral tariffs. The tariff rates “may be modified, upward or
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