The past week has been a rollercoaster ride for the financial markets. From President Donald Trump‘s surprising tariffs on gold to Eli Lilly’s worst day in 25 years, the week was filled with unexpected turns. Let’s dive into the top stories that shaped the week.

Trump’s Gold Tariffs Shake The Market

Aug. 7, 2025, marked a significant shift for the bullion market as Trump imposed new tariffs on one-kilogram gold bars. The move, which could bifurcate the global bullion market, has also set the stage for a potential shift in U.S. monetary policy. The U.S. has imposed tariffs of up to 39% on imported kilobars and 100-ounce gold bars, significantly impacting Switzerland, the world’s largest refining hub.

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Eli Lilly’s Worst Day In 25 Years

U.S. equities took a hit midday Thursday as corporate earnings and fresh tariff announcements from Trump led to divergent moves in heavyweight names. The S&P 500 dropped 0.3% to 6,328, the Dow Jones Industrial Average slid 0.8% to 43,865, while the Nasdaq 100 remained nearly unchanged at 23,307.

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See Also: Trump Puts Tariffs On Gold Bars—Now The Fed Could Trigger A Shock

Oil Prices Crash On US-Russia Deal

U.S. and Russian negotiators are working to finalize a potential agreement that would freeze the war in Ukraine and secure Moscow’s control over key territories. This development is causing ripple effects across markets with oil prices dropping, gold trimming earlier gains, and stocks rising to near record highs.

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Jobs Data Flashes Recession Risk

A surprisingly weak labor report reignited Wall Street’s recession fears. However, Corporate America might be telling a different story—one that shows signs of strength not seen in years. The July nonfarm payrolls report came in far below expectations, with the U.S. economy adding just 73,000 jobs.

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Fed Split Over Rate Cuts Widens

The July Federal Reserve meeting may be remembered as the most divided in over three decades. Two key board members, Michelle Bowman and Christopher Waller, voted for a rate cut, while Chair Jerome Powell and the majority held rates steady. However, a dismal July jobs report has sparked new urgency among central bankers and Wall Street analysts to pull forward rate cuts.

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Oil Prices Crash As US-Russia Push Ukraine War Truce, Nasdaq 100 Nears Record

This story was generated using Benzinga Neuro and edited by Ananya Gairola

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