T For Tariffs, T For Trillion
The Weekly Update
Week of July 14th, 2025
By Christopher T. Much, CFP®, AIF®
Stocks were slightly lower last week, while looking past news of fresh U.S. tariffs on nearly two dozen countries.
The Standard & Poor’s 500 Index fell 0.31 percent, while the Nasdaq Composite Index edged lower by 0.08 percent. The Dow Jones Industrial Average lost 1.02 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slipped 0.43 percent.
The Return of the Tariffs
Stocks started the week lower after the White House posted letters to 14 countries announcing new tariffs set to take effect August 1. They included 25 percent tariffs on South Korea and Japan.
Stocks dropped briefly midweek after the White House announced tariffs on seven additional countries. But as investors digested the news, markets gradually recovered, hoping the administration would dial back its steepest tariff rates again.
Markets also rallied on fresh AI trade enthusiasm and the latest …