Stocks moved lower in early trading Friday as investors digested the latest threats from President Donald Trump to impose hefty tariffs on U.S. trading partners.

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

US stocks dip as tariff deadline shifts to Aug 1. Traders eye S&P500 forecast, trade news, and earnings season to assess US indices momentum.

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.

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.

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

The S&P 500 and Nasdaq Composite pulled back from record levels as investors await President Trump’s new trade deals and tariff updates. Tesla shares sank after CEO Elon Musk jumps back into politics.

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,

Uncertainty surrounding U.S. trade tariff policies are keeping investors cautious, whilst Tesla (NASDAQ: TSLA)

The SPDR S&P 500 ETFSPY was down 0.1% after the market open. Nvidia, Tesla Climb; Kellogg Soars On Buyout Deal.