Dow Drops 400 Points as Markets React to Tariff News; Netflix, New Era Launch Headwear Collection

The Dow Jones Industrial Average fell more than 400 points amid growing concerns over new tariff announcements, with the S&P 500 and Nasdaq also posting declines of about 1%. Despite the drop in U.S. markets, trading in Asia and Europe remained relatively stable, as investors overseas appeared less rattled by the latest trade headlines.

In economic news, analysts are closely watching for updates on consumer credit data and results from the monthly small business sentiment survey—key indicators of financial stability and economic confidence.

On the business side, Netflix has teamed up with New Era for a new headwear collection that includes six unique designs. The lineup features caps themed after popular shows like Stranger Things and Squid Game, along with two minimalist styles featuring just the Netflix logo. The hats are available online through New Era’s website, priced from $31.99 to $47.99.

Meanwhile, Yelp has released its ranking of the top fast food chicken sandwich chains in the U.S., based on customer reviews and popularity. Chick-fil-A claimed the top spot, followed by Dave's Hot Chicken, Raising Cane's, Shake Shack, and Popeye's. According to Yelp, searches for “chicken sandwich” are up 125% this June compared to 2019, highlighting America's continued obsession with the crispy or grilled classic.

With your CNBC Morning Business Report, I'm Silvana Henao.

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