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- Dow drops 224 points as tariffs and earnings drive volatility
Dow drops 224 points as tariffs and earnings drive volatility
5 articles I'm watching carefully
Tyler Dupont
August 08, 2025
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Tyler Dupont  Good morning 👋 Here's the latest news I'm tracking today. |
📈 Stocks / Finance
Dow drops 224 points as tariffs and earnings drive volatility
The Dow fell 224 points after early gains, led lower by Caterpillar and Eli Lilly. Tariff concerns, especially a 100% levy on foreign chips, added volatility. Semiconductor stocks rose, but investors booked profits amid mixed earnings and macro uncertainty.
Chip stocks rally as Trump proposes 100% tariff on non-U.S. production
Chipmakers like TSM (+4.6%) and TXN rose after Trump proposed 100% tariffs on semiconductors not made in the U.S., exempting firms with local investment. The SOX index climbed 1.1%. Intel fell 3% after Trump criticized CEO Lip-Bu Tan over China ties.
IonQ downgraded as Q2 loss widens, stock dips 4.5%
IonQ posted a $0.70 Q2 loss vs. $0.18 last year, despite 82% revenue growth to $20.7M. D.A. Davidson downgraded the stock, citing roadmap uncertainty and profitability risks. Shares fell 4.5%, with volatility fueled by acquisitions and lack of near-term clarity.
🪙 Crypto
Crypto ETFs surge as Trump pushes 401(k) access
Trump-backed policies aim to expand crypto access in retirement plans. Bitcoin and Ethereum ETFs saw $11B in July inflows. Advisors are split, with some recommending up to 40% crypto allocations. Leveraged products like XXRP add risk, while non-leveraged ETFs gain favor.
🌎 Global Economy
U.S. tariffs hit over 90 nations, raising global trade tensions
New U.S. tariffs now apply to goods from 90+ countries, with rates reaching 35%. Key partners like the EU, Japan, and Canada face steep increases. Economists warn of long-term productivity losses and inflation, while legal battles loom over Trump’s use of emergency trade powers.
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