TheDrop Market Analysis, 07/08/25
- Alexangel Ventura
- Jul 8
- 1 min read
Markets retreated as President Trump made additional tariff threats.
The S&P 500 index fell 0.07%, the Dow 30 index fell 0.37%, the Nasdaq index fell 0.03%, and the Russell 2000 index fell 0.66%. The VIX volatility index fell 5.51%.
In the currency and crypto markets, Bitcoin weakened while Ethereum strengthened. Tariff pressures contributed to Bitcoin's fall as investors worried; additional, big Bitcoin holder MicroStrategy revealed that it would refrain from purchasing cryptocurrency.
Stocks generally fell because of Trump's latest tariff threats. On Tuesday, he unveiled a 50% copper tariff, and a 200% tariff on foreign made pharmaceuticals. In addition, the president made it clear that the August 1st deadline for the implementation of tariffs will remain, while foreign powers have a few days to negotiate a deal.
Magnificent Seven stocks saw mixed results, with Nvidia breaking $160 per share, and Meta rising 0.32% as it unveils a $3.5 billion investment in EssilorLuxottica SA, the largest eye-wear maker in the world, in a push to create AI-powered glasses.
Smaller tech companies surged heavily in reaction to Nvidia and Meta's rises. These included SoundHound AI (11.7%) and SoFi Technologies (3.7%). In addition, the EV maker Lucid rose 9% as it feeds off of momentum from a overperformance in deliveries.
Intel also made a shocking rise as it promises a shakeup internally to deal with growing debt and greater competition.
