The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.

President Donald Trump announced a significant development in his trade war against the United States' trading partners. *Stock prices used were the afternoon prices of July 6, 2025. The video was published on July 8,

US stocks close the day and week lower after Trump slaps Canada with a 35% tariff, escalating tensions. Bitcoin hit a new record high for a third day.

The stock market dipped on Friday after President Donald Trump issued his latest tariff threat against Canada. The S&P 500 posted a daily decline of 0.33% and was essentially flat over the past week. The Nasdaq notched a daily drop of 0.23%, and the Dow Jones fell 0.63%.

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's tariff actions and their impact on global trade.

Tax incentives contained in the sweeping tax and budget bill Trump signed on July 4 could provide a fresh boost to AI chipmakers.

Freeport McMoRan, Southern Copper, Newmont, Rio Tinto, and BHP were all rising Thursday after President Donald Trump said a new 50% tariff on copper will take effect on Aug.1.

Shares of US solar companies fell after President Donald Trump called for new rules that would limit access to tax incentives for renewable energy projects that had already been pared back by a $3.4 trillion budget bill.

A new executive order further lowers government support for renewable power. Stocks including First Solar and Enphase Energy dropped on Tuesday.

Futures fell as President Trump announced a 35% tariff vs. Canada after the S&P 500 and Nasdaq hit highs even as CoreWeave dived.