Tariff Deadline Looms as U.S. Stock Futures Retreat from Record Highs
Tariff Deadline Looms as U.S. Stock Futures Retreat from Record Highs U.S. stock futures retreated from record highs as the July 9 tariff deadline approaches, with investors growing cautious amid renewed trade tensions and uncertainty over pending trade deals. Contracts for U.S. equity benchmarks fell by about 0.6% after the S&P 500 and Nasdaq closed at fresh all-time highs earlier in the week . The pullback comes as President Donald Trump warned that the U.S. may begin imposing unilateral tariffs—potentially as high as 70%—on imports from major trading partners if agreements are not reached by the deadline. Key developments contributing to the market retreat include: Trade Negotiation Uncertainty: Only a handful of deals have been finalized so far, despite earlier optimism. Trump stated that letters would be sent to trading partners outlining new tariff rates, set to take effect August 1 if no agreements are reached . Global Market Reaction: European and Asian...