Wall Street's major averages were significantly lower on Monday, as investors dealt with renewed uncertainty amid President Donald Trump's tariff news. President Donald Trump said via Truth Social that he issued letters to South Korea and Japan announcing 25% tariffs on imports beginning Aug.

Wall Street experienced a downturn due to renewed tariff uncertainties and Elon Musk's political ambitions, impacting investor sentiment. The S&P 500 and Dow Jones Industrial Average faced significant drops,

While markets expected an extension ahead of the July 9 end to the tariff reprieve, administration officials signaled there will be just a few weeks' worth.