Mumbai, July 14 -- The Dow slid 279.13 points (0.6%) to 44,371.51, the Nasdaq slipped 45.14 points (0.2%) to 20,585.53 and the S&P 500 fell 20.71 points (0.3%) to 6,259.75.

Former President Trump announced a 35% tariff on Canadian imports, effective August 1st, citing Canada's failure to curb fentanyl trafficking. He warned of further hikes if Canada retaliates but offered to reconsider if cooperation improves. Trump also revealed plans for blanket tariffs of 15-20% on most U.S. trade partners. Despite these announcements, trading activity remained subdued amid a lack of major U.S. economic data.

Traders are eyeing the upcoming earnings season, with major U.S. banks set to kick things off next week. Analysts say strong corporate outlook...