US stocks opened lower on Friday, pulling major indexes off their record highs from the previous session, as investor sentiment turned cautious following President Donald Trump’s fresh tariff announcements.The S&P 500 fell 0.6% in early trading, while the Nasdaq composite slipped 0.4%. The Dow Jones Industrial Average was down 317 points, or 0.7%. The pullback followed a wave of new tariff threats by Trump, including a steep 35% levy on imports from Canada, AP reported.Levi Strauss bucked the trend, jumping 7% after the jeans manufacturer beat Wall Street’s sales and profit expectations and raised its full-year forecast, even as it warned of higher input costs due to tariffs.The sell-off came just hours after Wall Street scaled all-time highs, with analysts attributing the reversal to renewed trade policy risks. “Just as the market was catching its breath at new highs — drunk on Nvidia fumes and blissfully ignoring the dollar’s quiet groan — President Trump tugged the rug again,” said Stephen Innes of SPI Asset Management.Asian and European markets echoed the cautious tone. Germany’s DAX and France’s CAC 40 each declined 0.8%, while London’s FTSE 100 lost 0.4%. In Asia, the Hang Seng Index ended 0.6% higher, but gains were trimmed late in the day. The Nikkei in Tokyo slipped 0.2%, and India’s Sensex fell 0.8% to 82,518.15.Among individual movers, T-Mobile shares were flat after the US Justice Department cleared its $4.4 billion acquisition of US Cellular. The latter gained 1.2% in premarket trade.Meanwhile, bitcoin continued its rally, touching a new record above $118,000 before easing to $117,600. Analysts linked the surge to bullish momentum in risk assets and anticipation around Crypto Week in the US Congress beginning July 14, where key regulatory bills are expected to be debated.In the bond market, the yield on the 10-year Treasury rose to 4.40%, reflecting uncertainty around inflation and interest rates.In commodities, US crude added 77 cents to trade at $67.34 a barrel, while Brent crude gained 68 cents to $69.32. The dollar strengthened to 146.95 yen from 146.20 yen, while the euro eased to $1.1695.
