Wall Street stocks fell despite reports that President Donald Trump signed an order to extend the trade truce with China, AFP reported. The Dow Jones index dropped 0.5% to 43,975.09 points, while the broad S&P 500 lost 0.3%, reaching 6,373.45 points. The tech-heavy Nasdaq also declined by 0.3% to 21,385.40 points.

This downward trend occurred despite U.S. media reports about the 90-day delay in reintroducing higher tariffs on Chinese goods. In a separate post on the social media platform Truth Social, Trump clarified that gold will not be subject to additional tariffs, following last week’s customs letter that sparked speculation about new fees on gold bars.

Investors are now awaiting the consumer price index data, which will reveal how Trump’s tariffs are impacting the economy. Analyst Adam Sarhan from 50 Park Investments commented that if inflation decreases due to a slowdown in economic growth, it will be a double-edged sword — on one hand, allowing the Federal Reserve to cut interest rates, but on the other hand, signaling an economic slowdown.

Sarhan added that the latest employment report shows a weakening labor market, but it is still unclear whether this is an isolated case or a sign of a broader downturn. |BGNES