Today, U.S. stock markets remain closed in observance of Independence Day. However, market anxiety is palpable due to the approaching end of the U.S. administration's tariff suspension.
Futures on U.S. equities are falling on the last trading day of the week. At the time of writing, the US500 and US100 are both down 0.64%, while the US2000 is losing 1.10%. On Wednesday, July 9th, the 90-day suspension of mutual tariffs ends. A lack of a trade agreement between the U.S. and the EU threatens the immediate reimposition of elevated tariffs — potentially up to 50% on key export goods. Market nervousness has intensified, especially following recent comments by President Donald Trump, who has sharply escalated his rhetoric, threatening new tariffs of up to 70%.
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Today’s reaction on Wall Street will be limited due to the holiday, but by Monday, pressure is expected to build as the July 9th deadline approaches. Indexes are currently near all-time highs, and any trade escalation could spook investors and trigger some profit-taking. The next key support level for the US500 stands at 6,230 points — the last local peak reached at the beginning of 2025.
Google faces antitrust trouble in Europe
A group of independent publishers has filed an antitrust complaint with the European Union against Google, accusing the company of abusing its dominance in online search by using web content to power its AI Overviews feature — AI-generated summaries displayed above traditional search results. The publishers argue that this feature, now active in over 100 countries and already monetized through ads, harms them by diverting web traffic and ad revenue. The complaint, similar to a recent lawsuit in the U.S., claims that AI Overviews reduce demand for original content and threaten the sustainability of independent media outlets.
