Wall Street Slips as Mixed Earnings, Tariff Fears Weigh on Markets

Wall Street edged loweras investors absorbed a mixed batch of corporate earnings ahead of key U.S. inflation data, Associated Press reporters Yuri Kageyama and Matt reported.

Futures for the S&P 500, Dow Jones Industrial Average, and Nasdaq each dipped by 0.1% or less in premarket trading. Photo: Asy arch at English Wikipedia

Futures for the S&P 500, Dow Jones Industrial Average, and Nasdaq each dipped by 0.1% or less in premarket trading.

Gap Inc. shares fell 15% despite beating earnings expectations, as the retailer warned tariffs on Chinese and other foreign goods could cost it between $250 million and $300 million this year.

In global markets, Japan’s Nikkei 225 fell 1.2% to close at 37,965.10 after data showed core inflation in Tokyo rose to 3.6% in May—higher than expected and likely to influence future Bank of Japan rate decisions.

Meanwhile, Australia’s S&P/ASX 200 gained 0.3%, while South Korea’s Kospi dropped 0.8% ahead of next week’s presidential election. Hong Kong’s Hang Seng lost 1.2%, and China’s Shanghai Composite fell 0.5%.