The mood on the market was already characterized by great uncertainty.
When the president on Monday then announced what tariff levels may apply to export goods from the countries in question – including Japan and South Korea – a already negative trend for stock prices on Wall Street was strengthened.
In Trump's letter to the countries' leaders, which he published on social media, it also appeared that the tariff levels will apply from and including August 1.
Thereafter, the White House stated that the deadline for the general tariff pause is extended from July 9 to August 1.
Additional punitive tariffs
When the smoke and fog had settled and the stock market bell had struck for closing, the broad S&P 500 index had fallen back 0.8 percent, while Nasdaq's composite index and the Dow Jones industrial index had both fallen 0.9 percent.
The Japanese car manufacturers Toyota and Honda fell 4 and 3.9 percent, respectively, on Wall Street.
In addition to the tariffs against the countries in question, Trump declared that additional punitive tariffs of 10 percent will be introduced against countries that support the Brics countries' "anti-American" policy.
Tesla plummeted
The stock market mood in New York was also dragged down by the decline of the electric car company Tesla.
The stock plummeted 6.8 percent after the CEO and major owner Elon Musk clarified that he will start a political party – which means a further escalation in the ongoing conflict with Trump.
Tesla pulled large parts of the technology sector down. Six of the seven very index-heavy technology companies that together are called "The magnificent seven" – "the magnificent seven" – fell back.
The stock in the seventh company, the e-commerce giant Amazon, closed unchanged.
Tesla's decline meant that the company on Monday lost 68 billion dollars (equivalent to 647 billion kronor) in market value, writes CNBC.
