U.S. President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached, while bewildering some smaller exporters such as South Africa and leaving companies with no clarity on the path forward.

The S&P 500 retreated 0.8% from its all-time high, and bond yields ticked higher. The Dow industrials fell 0.9%.

Trump imposes tariffs up to 40% on 14 countries, pressuring allies to shift production to the US and avoid ties with BRICS. Tensions mount globally.