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Markets slip as Trump Putin summit opens and consumer confidence slides
SPY and QQQ retreat while sentiment and inflation expectations weaken as leaders meet in Alaska

Markets retreat as a high profile summit unfolds and consumer sentiment turns softer amid inflation worries.
Markets Dip as Trump Putin Summit Opens and Consumer Confidence Slides
Stocks edged lower as traders digested news from a high stakes meeting between President Trump and Russian President Putin. The S&P 500 ETF SPY fell 0.29 percent and the Nasdaq 100 ETF QQQ declined 0.51 percent as investors awaited concrete updates from the Anchorage talks.
The University of Michigan index of consumer sentiment for August came in at 58.6, below the 62.0 forecast and down from July. Inflation expectations rose with year ahead at 4.9 percent and long run at 3.9 percent. Import prices rose 0.4 percent in July, signaling ongoing price pressures. Trump said he would announce the rate for semiconductor imports in the coming weeks, a move that could raise costs for manufacturers and affect supply chains.
Key Takeaways
""All I want to do is set the table for the next meeting, which should happen shortly.""
Trump comments before departing Alaska
""Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused.""
Joanne Hsu, Surveys of Consumers Director
""Tariffs on semiconductors could come with a hefty price tag for manufacturers.""
Market expectations around tariff news
""Investors want policy clarity over political theater.""
Market mood as headlines swirl
Geopolitics and policy talks are driving early market moves. The risk is that a diplomatic push could stall on details, leaving investors exposed to headlines rather than solid steps. At the same time, consumer data point to lingering inflation pressures, which could influence how policymakers balance growth with price stability. In short, the market is testing how much credibility the upcoming talks will earn and how much anxiety they will leave behind.
Highlights
- Markets hate uncertainty and price it in
- Tariffs raise costs while clouding the coming quarter
- Investors crave clarity not bravado from leaders
- Consumer data stays under pressure while headlines swirl
Political and market risk from high stakes summit
The article ties diplomatic talks to market moves and tariff talk, introducing political sensitivity that could trigger volatility among investors and the public.
Diplomacy and data will determine the next leg of this market cycle.
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