US Equity Indexes Fall, Treasury Yields Rise as Trump's Trade Tariffs Weigh on Risk Sentiment

12:31 PM EDT, 07/11/2025 (MT Newswires) -- US equity indexes fell and government bond yields rose as investors weighed the Trump administration's latest tariff developments.

The Nasdaq slipped less than 0.1% at 20,615.88. The S&P 500 fell 0.3% to 6,259.2. The Dow Jones Industrial Average was down 0.6% to 44,392.2.

All sectors except technology and energy declined intraday. Materials, consumer discretionary, and healthcare led the decliners intraday.

Trump told NBC News he plans to implement a 15-20% punitive levy on most trading partners, according to a Deutsche Bank note. Trump warned Canada of a potential 35% levy if terms aren't renegotiated by Aug. 1, though it seems this is only for goods not covered by the USMCA trade deal, "so its scope would be more limited," the note said.

The ICE US Dollar Index rose 0.2% to 97.89 intraday.

Gold futures climbed 1.3% to $3,370.01 per ounce.

Most US Treasury yields rose, with the US 10-year Treasury up 5.9 basis points to 4.41% and the two-year 3.2 basis points higher at 3.9%.

In energy markets, West Texas Intermediate crude oil futures jumped 2.5% to $68.27 a barrel.

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