US stock market today: Dow struggles, Nasdaq dips, S&P slides as Boeing crashes and Trump sparks fresh China tariff fears

US stock market live updates: Dow Jones back in green even as Trump hints at 55% China tariffs and geopolitical tensions rise- Wall Street futures dip despite Trump’s remarks on a “done” China deal; Iran warning and oil price spike add to market pressure. The US stock market opened with fresh volatility on June 12, 2025, as President Donald Trump declared that a trade deal with China is “done,” but still subject to final approval by top leaders of both countries. Despite this announcement, stock futures dipped, reflecting investor skepticism and growing global uncertainty.

As of the latest update, Dow Jones futures reversed earlier losses and moved back into the green briefly, while S&P 500 futures remained 25 points lower and Nasdaq futures dropped around 100 points. The initial drop came after President Trump’s unexpected statement that China would face a 55% tariff under the new agreement framework.

Commerce Secretary Howard Lutnick added to the confusion, saying that tariffs on China “will not change” under the London framework agreed over the past weekend. Meanwhile, China has not issued any official response regarding the deal or the talks that took place in London over the last two days.

What are the major indices doing today?

• Dow Jones Industrial Average: Slightly down at 42,860, shedding around 0.01%.
• S&P 500: Slipping by 0.27%, currently hovering near 6,022.
• Nasdaq Composite: Leading the decline with a drop of 0.50%, sitting around 19,615.

Major stocks today: Oracle soars, Boeing crashes, GameStop tumbles as Wall Street swings on Trump tariffs and inflation data

Wall Street is riding a rollercoaster today as investors react to a mix of strong tech earnings, a shocking plane crash, and renewed trade war fears. Here’s a detailed look at the biggest stock movers, sector trends, and what’s shaping the markets this Thursday.

Which major stocks are making headlines today?

Top Gainers

• Oracle (ORCL): Shares exploded nearly 13% after the tech giant crushed earnings expectations and raised its guidance, thanks to booming demand in AI and cloud services.
• Cardinal Health (CAH): Gained around 3.3% as defensive healthcare names attracted buyers amid rising uncertainty.
• Newmont (NEM): Up 3.1%, riding the wave of rising gold prices as investors seek safe havens.

Top Losers

• Boeing (BA): Crashed 5–6% after an Air India Boeing 787 Dreamliner was involved in a deadly accident, raising fresh concerns about the company’s long-troubled aircraft models.
• Oxford Industries (OXM): Slid over 11% amid fears that Trump’s potential new tariffs on Chinese goods could squeeze retail margins.
• GameStop (GME): Tumbled nearly 20% after the company announced a massive $1.75 billion convertible note offering, rattling meme stock investors.

What’s pulling the stock market down?

1. Trump’s new tariff threats:
President Trump reignited trade war fears with fresh threats of tariffs against both China and Iran, shaking investor confidence. This escalation is weighing particularly hard on industrials and multinationals.
2. Boeing takes a nosedive:
Shares of Boeing fell more than 5% following the crash of an Air India Boeing 787 Dreamliner, dragging down the Dow. The news reignited safety concerns and reminded investors of Boeing’s previous struggles.

3. Rising tensions in the Middle East:
Geopolitical jitters are flaring up again as tensions rise between the US and Iran. Oil prices are slightly higher, and safe-haven assets like gold are gaining traction.

Any bright spots in today’s market?

Oracle shines:
In an otherwise cautious market, Oracle stock surged over 12% after reporting strong quarterly results and issuing an upbeat revenue forecast. This tech rally helped cushion some of the Nasdaq’s losses.

Soft inflation data helps Fed outlook:
Both consumer and wholesale inflation came in softer than expected, boosting hopes that the Federal Reserve could cut interest rates later this year—a sentiment that’s helping to limit broader declines.

Why are US stock market still down despite Trump’s China deal announcement?

While Trump’s declaration of a “done deal” with China would typically spark a rally, markets appear to be questioning the details and stability of the agreement. His mention of a 55% tariff on Chinese imports—a sharp jump from existing levels—caught investors off guard.

This sharp increase suggests a more aggressive trade stance, which could trigger retaliation from Beijing. And with no confirmation from China, traders remain on edge. The Dow Jones futures briefly dipped by 200 points, with the Nasdaq futures off by 100 points, as markets try to digest the possible impact of this dramatic shift in trade policy.

What did Commerce Secretary Lutnick say about tariffs and the London agreement?

Howard Lutnick, the US Commerce Secretary, clarified that the tariff structure would remain unchanged despite Trump’s remarks. According to Lutnick, the framework finalized in London over two days of talks will be implemented as it is, with no immediate tariff hike.

This directly contradicts the President’s statement and raises further questions about internal policy alignment within the administration. Without clear communication or official documents released, investors are left guessing, which is fueling market uncertainty.

How are rising tensions with Iran affecting the market today?

Markets are also reacting to new geopolitical threats coming from the Middle East. According to a report from AFP, Iran’s Defence Minister warned that the country could strike US military bases in the region if the ongoing nuclear talks with Washington collapse.

This strong statement has added to the already tense atmosphere, pushing Brent Crude prices above $70 per barrel, marking the biggest single-day gain since October 2024. The oil market surge is also being driven by fears of potential conflict, which could disrupt supply in the region.

Is the US dollar weakening and gold gaining in response to global uncertainty?

Yes, the financial markets are showing classic signs of a risk-off environment. As concerns rise over trade policies and geopolitical conflicts, the US Dollar has dropped to its lowest point since late 2023. In contrast, Gold prices have surged, as investors look for safer assets to protect their portfolios.

This trend reflects a broader lack of confidence in the near-term economic outlook, especially as market-moving headlines continue to pour in without confirmation or consistency from global leaders.

What should investors watch for next as volatility spikes?

With both Trump’s tariff announcement and Iran’s threats sending shockwaves across markets, investors should stay focused on two key developments:

1. An official statement from China on the outcome of the London trade talks, which could either confirm or contradict Trump’s announcement.
2. Updates on Iran-US nuclear talks, which could either defuse or escalate military tensions.

Until these uncertainties clear up, the US stock market is likely to remain volatile, with sensitive reactions to every new headline.

FAQs:

Q1: Why are US stock market futures falling after Trump’s China deal?
Markets are unsure due to conflicting messages and lack of China’s response.

Q2: What caused oil prices to rise above $70?
Iran’s warning over US military bases spiked crude prices.