(For a Reuters live blog on U.S., UK and European stock

markets, click LIVE/ or type LIVE/ in a news window)

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Indexes down: Dow 0.06%, S&P 500 0.19%, Nasdaq 0.17%

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Crypto stocks jump as bitcoin hits $120,000 mark

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Tesla up after Musk rules out merger with xAI

(Updates with market-open prices)

By Pranav Kashyap and Nikhil Sharma

July 14 (Reuters) - Wall Street fell marginally on

Monday as investors ran into President Donald Trump's latest

tariff threats against the EU and Mexico, starting a week loaded

with economic data and major second-quarter earnings.

Trump ramped up trade tensions over the weekend, vowing to

slap a 30% tariff on most imports from the European Union and

Mexico starting August 1 - a move that leaves the clock ticking

for last-minute trade deals.

The EU extended its pause on retaliatory measures until

early August, holding out hope for a negotiated truce. The White

House said talks with the EU, Canada and Mexico are still

underway.

Trump's latest salvo follows last week's tariff offensive,

which targeted the United States' close allies like Canada,

Japan, and South Korea, and a 50% duty on copper.

Yet, investors barely flinched, having grown accustomed to

Trump's tariff threats and his track record of last-minute

reversals.

"The stock market's muted reaction to the latest volley of

tariff headlines suggests investors may be growing numb to them,

or are deciding that the tariff bark will likely be worse than

the eventual bite," said Chris Larkin, managing director,

trading and investing, E*TRADE from Morgan Stanley.

At 9:59 a.m. ET, the Dow Jones Industrial Average

fell 27.60 points, or 0.06%, to 44,343.20, the S&P 500

lost 11.72 points, or 0.19%, to 6,248.16 and the Nasdaq

Composite lost 36.06 points, or 0.17%, to 20,549.58.

RBC Capital Markets raised its year-end S&P 500 target

to 6,250 - its second upgrade this year - citing upbeat investor

sentiment and optimism about the economic outlook through 2026.

Focus was also shifting to the commencement of the

second-quarter earnings season, with Wall Street's banking

giants reporting on Tuesday.

Attention was also on Tuesday's consumer price data,

expected to show an uptick in U.S. inflation in June, as sellers

began raising prices to factor in Trump's sweeping tariffs.

Meanwhile, producer and import price reports are due on

Wednesday and retail sales figures are due on Thursday.

While traders have almost fully ruled out a July rate

cut, the probability for a September move stands at 61%,

according to CME FedWatch.

In an interview on Fox Business, Cleveland Fed President

Beth Hammack rejected the need to immediately lower interest

rates.

Most S&P sectors were in the positive domain, but the

information technology index was a drag, down 0.8%.

Chip stocks came under pressure, with Micron Technology ( MU )

falling about 5% and Nvidia ( NVDA ) down 1.2%.

Among other stocks, Tesla rose 1.3% after CEO

Elon Musk

ruled out

a merger between the electric vehicle maker and xAI.

Crypto stocks ticked up after bitcoin topped $120,000

for the first time. Coinbase global rose 2.7%, Bitfarms

gained 5.1% and Riot platforms was up 5.4%.

Waters Corp ( WAT ) dropped 9.4% after the lab equipment

maker agreed to merge with rival Becton, Dickinson and Company's ( BDX )

Biosciences & Diagnostic Solutions unit in a $17.5

billion deal.

Declining issues outnumbered advancers by a 1.03-to-1

ratio on the NYSE, while advancing issues outnumbered decliners

by a 1.13-to-1 ratio on the Nasdaq.

The S&P 500 posted nine new 52-week highs and four new

lows, while the Nasdaq Composite recorded 41 new highs and 28

new lows.