#MarketPullback 📉 What caused the setback?

1. New tariffs announced by Trump on August 1 for over 60 countries, with rates between 10% and 41% (for example, 25% in India, 39% in Switzerland), generated negative reactions in global markets.

2. Disappointing jobs report: only 73,000 jobs were created in the U.S. in July, and the figures for May and June were heavily revised downward (–258,000 jobs). The unemployment rate rose to 4.2%.

3. Mixed corporate results: Amazon fell ~8% due to weak results in AWS; Apple warned of a $1.1 billion impact in costs due to tariffs. Other mega-caps like Nvidia, Tesla, or Meta also recorded significant declines.

4. FOMO sentiment and high valuations: according to Julian Emanuel (Evercore ISI), the euphoria among investors and P/E multiples (~24.7) could trigger corrections of 7%–15%.

5. Seasonal patterns: July is usually strong, but August-September tend to be weak, particularly after fast rally periods like the one observed since April (up ~32% from the April low).

📊 Impact on the indices (August 1, 2025)

Dow Jones: –1.2% (~542 points), closing at ~43,588

S&P 500: –1.6% (~101 points), finishing near 6,237

Nasdaq: –1.95% to –2.24%, leading the losses (~–472 points)

VIX Index (volatility): reached levels of 20–22, the highest since late June.

For the week, S&P fell ~2.4%, Nasdaq ~2.2%, Dow ~2.9%, marking the strongest losses in months.