<h1>Wall Street drops as administration threatens 25% tariffs on Japan and South Korea starting August 1</h1> Wall Street declined as the administration pressured trading partners with new tariff threats. The S&P 500 fell 0.8-1.2%, Dow dropped 0.9-1.4%, and Nasdaq declined 0.9-1.3%. The administration sent letters to Japan and South Korea announcing 25% tariffs starting August 1, with additional 10% tariffs threatened against BRICS nations. A major electric vehicle company tumbled 7.4% amid political tensions between its CEO and the President. Technology, financial, and consumer stocks led declines. The selling accelerated after the 90-day tariff negotiating period neared expiration, creating uncertainty over global trade policy.