Markets are seeking clarity on President Trump's tariffs, with the president targeting Aug. 1 for new country-specific tariffs.

Wall Street is coming off a holiday-shortened week during which the S&P 500 and Nasdaq Composite posted fresh all-time highs.

Shares of Microchip Technology Incorporated MCHP rose sharply during Tuesday's session. Mizuho analyst Vijay Rakesh maintained Microchip Technology with an Outperform rating and raised the price target from $78 to $85. Microchip Technology shares jumped 4.1% to $74.36 on Tuesday.

US stock market started the week on a weak note as Dow Jones fell 160 points after President Donald Trump announced fresh tariffs on 14 countries, including Japan, South Korea, and Bangladesh. The market dip deepened as Tesla shares plunged 7% following Elon Musks America Party announcement.

Shares of technology companies fell as Elon Musk's latest feud with President Donald Trump weighed on Tesla shares. Shares of the electric car maker slid by almost 7% after Musk vowed to field candidates for a new party in the upcoming mid-term elections, stoking fears of reprisal and distraction.

Wall Street is watching for progress on trade talks and on President Trump's massive budget bill in the Senate.

Wall Street's main indexes opened lower due to tariff tensions and Tesla shares fell as CEO Elon Musk unveiled plans for a political party. The Dow Jones fell by 25.2 points, the S&P 500 dropped 20.3 points,

The Dow fell slightly Tuesday as futures slipped following record highs. Wall Street eyes trade talks, Tesla troubles, and upcoming jobs data.

The Dow Jones average and the other major indexes fell on the stock market today. Tesla tumbled while detention center stocks jumped.