Markets are dropping off from record highs with Trump's tariffs in focus as key inflation data and earnings season loom.

Apple stock dropped 0.8% in morning trading Monday, threatening to add to Friday's 0.6% decline. Boeing shares rallied 1.4% premarket, closing in on a new 52-week high. Electric-vehicle giant Tesla TSLA rallied 1.3% Monday premarket, on pace to extend a win streak to three sessions.

What Happened? Shares of life sciences tools company Agilent Technologies (NYSE:A) fell 3.2% in the morning session after the White House announced new tariffs on goods from the European Union and Mexico.

Dow Jones today traded slightly lower as investors reacted to President Trump’s 30% tariff announcement on EU and Mexico goods starting August 1. Despite the headline, markets remained stable as hopes for tariff negotiations kept investor sentiment calm.

U.S. stock indexes held near their records following President Donald Trump’s latest updates to his tariffs, as speculation continues that he may ultimately back down on them. The S&P 500 edged up by 0.