Major indices move lower as investors react to the news that Pres. Trump will look to raise tariffs on August 1. A series of letters went out to Japan and South Korea, Malaysia, Kazakhstan, South Africa, Laos, Myanmar that tariffs would increase effective August 1 if trade deals are not advanced by then. For Japan and South Korea, imported goods from each country would be at 25% tariff. Other tariff rates vary with Kazakhstan at 25%, Malaysia at 25% South Africa at 30%, Myanmar at 40% and Laos at 40%.Shares were already lower on the day but saw additional pressure after the announcements.The final numbers are showing:Dow Industrial Average fell -422.17 or -0.9% at 44406.36.S&P index fell -49.37 points or -0.79% at 6229.98.NASDAQ index fell -188.59 points or -0.92% at 20412.52..The small-cap Russell 2000 fare the worst with a -34.81 point decline or -1.55% at 2214.22..Shares up Tesla fell by -6.79% after Elon Musk said that he was starting a third political party. Pres. Trump said that Musk is going off the rails, and interestingly, he announced tariffs of 30% against his home country of South Africa.Some of the big losers today included:Tesla (TSLA): -6.80%Arm (ARM): -5.29%Stellantis NV (STLA): -4.95%First Solar (FSLR): -4.31%GameStop Corp (GME): -4.15%ARK Genomic Revolution (ARKG): -4.12%Super Micro Computer (SMCI): -2.99%Papa John's (PZZA): -2.96%Chipotle Mexican Grill (CMG): -2.81%FedEx (FDX): -2.53%Qualcomm (QCOM): -2.50%General Mills (GIS): -2.47%Rivian Automotive (RIVN): -2.45%Taiwan Semiconductor (TSM): -2.42%Some companies that advanced in the down day included:Roblox (RBLX): +4.03%SoFi Technologies (SOFI): +3.69%Palantir (PLTR): +3.54%DoorDash (DASH): +3.39%Uber Technologies (UBER): +3.25%Dollar Tree (DLTR): +2.28%Snowflake (SNOW): +1.92%Lockheed Martin (LMT): +1.45%Charles Schwab (SCHW): +1.26%Boeing (BA): +1.20%Walmart (WMT): +1.01%Fortinet (FTNT): +0.94% This article was written by Greg Michalowski at www.forexlive.com.