Lego began as a wooden toy company before transitioning to its now-iconic plastic bricks in the 1950s.
Founded in 1932 in Denmark, Lego originally crafted wooden ducks, cars, and yo-yos. The shift to plastic started in the late 1940s, with the final interlocking brick design patented in 1958.
It’s a powerful reminder that even the most iconic innovations often come from bold pivots.
Market Wrap
Trade War Redux: Tariffs Return, Stocks Retrea
New Tariffs Issued on 14 Countries:
President Trump announced via executive order and official letters that the U.S. will impose 25% tariffs starting August 1 on imports from Japan, South Korea, and 12 other nations, pending no new trade agreements by the July 9 deadline. This move rattled global trade sentiment and weighed heavily on stock futures and major U.S. equity indices.
Tariff Deadline Extension and Market Reaction:
Alongside the announcement, the administration formally extended the reciprocal tariff deadline to August 1.
Tesla Tumbles After Musk’s Political Move:
Tesla shares dropped sharply—about 6.8%—after Elon Musk announced plans to form a new political party, distracting investors amid already shaky sentiment.
Amazon.com Inc. shares were flat as the company kicked off its four‑day Prime Day event, with expectations of strong gross merchandise volume lifting the stock in pre‑market trading.
Tesla Inc. shares fell about 6.8% after CEO Elon Musk announced plans to start a new political party and criticized federal EV tax credit rollbacks, triggering investor concerns and technical selling pressure.
Exxon Mobil Corp. shares slipped after the oil giant warned of a potential $1.9 billion earnings shortfall due to recent declines in oil and gas prices.
