Exxon Mobil Stock Takes a Hit Amid Tariff Announcements and Inflation Concerns

Exxon Mobil Corp shares fell Monday as President Donald Trump announced a 30% tariff on all imports from the European Union and Mexico. The tariff news could indirectly cause Exxon Mobil stock to fall by dampening global economic growth prospects and reducing consumer spending. Increased tariffs can lead to higher input costs for various industries and potentially reduce overall energy demand.

Exxon Mobil Corp shares fell Monday as President Donald Trump announced a 30% tariff on all imports from the European Union and Mexico. This news has the potential to indirectly cause Exxon Mobil stock to fall by dampening global economic growth prospects and reducing consumer spending. Increased tariffs can lead to higher input costs for various industries and potentially reduce overall energy demand.

The S&P 500 Index was up less than 0.1% as of 11:30 a.m. in New York, after snapping a two-week winning streak. The Nasdaq 100 Index rose 0.2%, after falling as much as 0.5% earlier. The S&P 500 Index was less than 0.3% from its July 10 record after climbing above the psychologically important 6,200 level [1].

Exxon Mobil Corp. and Chevron Corp. fell 1.6% and 2%, respectively, as investors eyed further US sanctions on Russia that may affect global crude supplies. Trump said the US would impose “secondary tariffs” of about 100% on Russian imports if a deal is not reached in 50 days [1].

With key inflation data on tap this week ahead of the Federal Reserve’s July 30 interest-rate decision, money managers are focusing on earnings season. Trump said over the weekend that he plans to impose a 30% tariff on most imports from the European Union and Mexico from August 1, even as they are locked in long negotiations [1].

Several names are reporting soon, with results from JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. on Tuesday. Goldman Sachs Group Inc., Morgan Stanley and Bank of America Corp. report later in the week [1].

US stock futures declined on Monday after President Donald Trump announced a 30% tariff on imports from the European Union and Mexico starting August 1, escalating global trade tensions [2].

The latest reading on the consumer price index is on tap Tuesday. Traders will be looking for clues as to how tariffs are flowing through the economy. Retail sales figures are due Thursday and a new consumer sentiment reading from the University of Michigan — which includes data about inflation expectations — is set for release on Friday [1].

Wall Street strategists have been growing more optimistic about US stocks, with forecasters at RBC Capital Markets lifting their year-end target for the S&P 500 to 6,250 from 5,730, essentially bringing its forecast in line with the gauge’s close on Friday [1].

Among individual stock movers, cryptocurrency-exposed shares advanced after Bitcoin eclipsed $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday. Coinbase Global Inc., Strategy and Galaxy Digital all rose [1].

Of note, Autodesk Inc. was the best-performing S&P 500 stock, jumping 5% after the software company said it is allocating its capital to organic investment, targeted and tuck-in acquisitions, and continuing its share repurchase program as its free cash flow grows [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-07-14/us-stocks-drift-from-records-as-trump-ramps-up-tariff-threats
[2] https://www.tradingview.com/news/te_news:469728:0-us-futures-fall-as-trump-announces-30-tariff-on-eu-mexico/