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Economy & Finance

S&P 500

U.S. stocks dipped on Tuesday as investors took a pause after a recent recovery rally. The Dow Jones fell by 61 points, while the S&P 500 and Nasdaq Composite each saw small declines. Despite the dip, the broader market has shown resilience, with the S&P 500 and Nasdaq still up over 1% for the month. Investors are now looking ahead to the Federal Reserve’s Jackson Hole Symposium and the release of minutes from the Fed’s July meeting for clues on future interest rate decisions. Major stocks like Palo Alto Networks rose on strong earnings, while Lowe’s and Bank of America faced declines.

Technology

Tesla

The European Union has significantly reduced its planned extra tariffs on Tesla electric vehicles imported from China, cutting the rate from 20.8% to 9% following further investigations requested by the company. The decision comes amid an ongoing high-profile EU investigation into alleged Chinese subsidies for EV production, which has led to tensions with Beijing. The new tariffs are part of the EU's effort to level the playing field and address what it sees as unfair subsidies benefiting Chinese automakers. Tesla's cooperation with the investigation helped secure the reduced tariff, while other Chinese companies also saw slight reductions in their proposed duties.

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