US stock futures dipped after President Trump’s announcement of broad reciprocal tariffs sent markets into a tailspin.
Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq Composite (NQ=F) fell 0.2%.
As of 11:22:17 PM EDT. Market Open.
YM=F ES=F NQ=F
Trump’s Wednesday announcement placed the US effective tariff rate at its highest level in more than 100 years, and the market’s fallout from the new duties has been immense. On Thursday, stocks saw their worst one-day sell off since 2020, wiping out around $2.5 trillion.
Read more: The latest on Trump’s tariffs
Trump, speaking to reporters aboard Air Force One, said the rollout of his tariffs is “going very well,” adding that he is open to “phenomenal” offers from countries to negotiate down the new rates.
Wall Street economists are warning that with tariffs as-is, the risk of recession is rising. Traders also upped the number of interest rate cuts they expect to see from the Federal Reserve as concerns of slowing economic growth start to overshadow worries about rising prices.
On Friday, investors’ attention will turn to the March jobs report. Experts say, however, that the print won’t pack enough punch to alleviate any fresh fears of an impending economic slowdown.
LIVE 1 update
