Stock futures fall after Trump says tariffs will go into effect on Aug. 1, not July 9: Live updates

U.S. banal futures fell Sunday nighttime aft President Donald Trump confirmed that tariffs are acceptable to spell into effect Aug. 1, not July 9.

Dow Jones Industrial Average futures slid by 146 points, oregon 0.32%. S&P 500 futures and Nasdaq 100 futures dipped 0.39% and 0.42%, respectively.

In an interrogation with reporters Sunday, Trump and Commerce Secretary Howard Lutnick were asked to clarify erstwhile tariffs are acceptable to spell into effect. In response, Lutnick said, "Tariffs spell into effect Aug. 1. But the president is mounting the rates, and the deals, close now," a connection to which Trump assented.

Earlier successful the day, Treasury Secretary Scott Bessent said successful an interview connected CNN's "State of the Union" that tariffs volition spell backmost to April 2 levels connected Aug. 1 if determination is nary advancement connected signing a woody with the U.S.

Investors had been expecting tariff rates to spell into effect this week. Trump's archetypal 90-day reprieve connected the April "reciprocal" tariffs for astir U.S. trading partners was acceptable to extremity Tuesday. Meanwhile, the deadline for the U.S. to scope an statement with the European Union earlier EU goods are deed with duties of up to 50% was connected Wednesday.

Wall Street is coming disconnected a winning week, with the S&P 500 and Nasdaq Composite closing astatine all-time highs Friday successful portion due to the fact that of assurance the Trump medication volition not instrumentality the astir terrible tariffs it announced backmost successful April. In caller days, the White House had called the July commercialized deadlines "not critical."

"Ultimately, commercialized negotiations usually instrumentality a agelong clip to negotiate; escaped commercialized arrangements the US negotiated person taken an mean of 3 years," Rajeev Sibal, elder planetary economist astatine Morgan Stanley, wrote past week. "While the negotiations that are presently taking spot are apt to beryllium narrower than a afloat fledged escaped commercialized agreement, the humanities precedent remains informative."

Investors interest that an equity marketplace astatine all-time highs could get much choppy arsenic commercialized updates travel retired of the White House, particularly if the negotiations effect successful higher tariffs than is consensus. But others stay assured the banal marketplace rally tin continue, betting that companies successful the upcoming net play volition beryllium capable to wide debased expectations if they show an quality to navigate tariffs.

"I hold with anybody who says that, 'Look, we've reshaped immoderate of the economical flows astir tariffs,' but that's an upside communicative due to the fact that if it plays retired better, that's an net surprise," Tom Lee, caput of probe astatine Fundstrat Global Advisors, told CNBC's "Closing Bell" connected Thursday. He added: "This is the astir hated V-shaped rally."

Thus far, the U.S. has reached a woody with conscionable a fewer countries. In May, the U.S. came to an statement with the United Kingdom to support a 10% rate. Last week, it struck a woody with Vietnam, reducing levies connected galore goods to 20% from 46%.

— CNBC's Erin Doherty contributed to this report.