Tesla Slides, BRICS Tariff Warning, Nike’s $1B Hit, and Groq’s EU Expansion

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Dear Money Master,

Markets are jittery as political tensions and economic risks mount. 🚨 Elon Musk’s announcement of a new political party sent Tesla stock tumbling, while Trump is threatening new tariffs on countries siding with BRICS. China retaliated against the EU in their ongoing trade spat, and private credit is flashing warning signs of systemic risk. Meanwhile, Groq expands AI capacity in Europe, Nvidia’s new chip hits the market, and Microsoft sheds more jobs. On the earnings front, Nike braces for a $1B tariff blow, Tripadvisor jumps on activist buzz, and Acuity beats forecasts thanks to QSC. 👀

📰 Your Daily Financial Digest - July 7th, 2025

🌍 Economics & Finance:

1. Trump Threatens 10% Tariff on BRICS-Aligned Nations ⚠️

   Countries supporting BRICS’ “anti-American” policies face new 10% tariffs from August 1, Trump warned. This raises fears of another global trade war and friction with China, which called the move coercive. Read More

2. China Hits Back at EU With Medical Import Restrictions 🏥

   China will block purchases of EU-made medical devices over $6.3M in retaliation for EU’s ban on Chinese bids. Devices with 50% EU components are also restricted, escalating the ongoing trade war. Read More

3. Private Credit Could Be the Next Financial Crisis Fuse 💣

   The booming $1.7T private credit market poses risks from lax lending and opaque defaults. High PIK loans and falling standards are raising alarms about systemic risk, especially in a downturn. Read More

4. Tariff Deadline Confirmed: U.S. to Reinstate April Levels by August 🗓️

   Countries failing to finalize trade deals will revert to higher April tariffs by August 1. Over a dozen letters are being sent to notify trading partners of the looming hike. Read More

💻 Technology:

1. Groq Opens First European AI Data Center in Finland 🤖

   AI chip startup Groq launches its first EU data center in Helsinki, aiming to challenge Nvidia in inference computing. Unlike GPUs, Groq’s chips focus on real-time AI performance. Read More

2. Nvidia’s Blackwell Ultra Chips Go Live at CoreWeave 🚀

   CoreWeave becomes first to deploy Nvidia’s next-gen Blackwell Ultra AI chips via Dell-built systems. These chips boast 50x more AI output, promising a leap in performance. Read More

3. Microsoft Confirms 830 Layoffs in Washington 📉

   Amid a larger 9,000-job cut, Microsoft shed 830 roles in Washington, spanning sales, engineering, research, and law. The layoffs target redundancy as the company pivots toward AI. Read More

4. Tesla Sinks PreMarket After Musk Unveils ‘America Party’ 🚨

   Shares plunged after Elon Musk announced plans to form a political party targeting swing districts. Investors fear the renewed political focus will distract from Tesla’s core challenges, including weak Q2 deliveries. Read More

💹Earnings:

1. Nike Projects $1B Tariff Hit as Profits Plunge 86% 👟

   Nike warned that 2026 profits will be impacted by $1B in new tariffs. Its Q4 earnings fell 86%, but management says the worst may be over amid strategic shifts. Read More

2. Acuity Surges After Earnings Beat Thanks to QSC 📊

   Acuity posted a 22% revenue jump in Q3, driven by QSC’s integration. Its Intelligent Spaces segment grew 250%, pulling shares into positive territory for the year. Read More

3. Tripadvisor Soars After Starboard’s 9% Stake 🌍

   Starboard Value acquired a $160M stake in Tripadvisor, sending shares higher. The activist investor may push for changes as Tripadvisor explores strategic options. Read More

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