US stock futures slumped on Monday, eyeing a return to losses as trade-war worries kept building in the run-up to President Trump’s tariff bonanza later in the week.
Contracts on the tech-Nasdaq 100 (NQ=F) led the way lower, down 1.1%, while S&P 500 futures (ES=F) sank roughly 0.8%. Dow Jones Industrial Average futures (YM=F) dropped about 0.5%, or 200 points.
Markets are set to wrap up March on a woeful note, after a rough month and quarter beset by Trump’s fast-evolving tariff policy. Last week was the fifth in six weeks that the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) ended the week in the red.
CME – Delayed Quote • USD
Stocks have sold off amid concerns about the economic impact of Trump’s trade offensive. Investors are now bracing for the broadest set yet of US tariffs, set to be unveiled on April 2 — described as “Liberation Day” by the president.
Trump said he plans to target “all countries” with reciprocal tariffs from the start, dampening hopes for a more limited scope. A report from The Washington Post this weekend suggested the president is pushing advisers to go even “bigger” in imposing the levies.
Amid the tariff risks, markets are keeping watch for signs of economic stress, after stocks fell in the wake of a hotter-than-expected read on “core” PCE — the Federal Reserve’s preferred measure of inflation. The March jobs report due on Friday is the data highlight of the week, with updates on private payrolls and job openings also on the docket.
- LIVE 1 updateGold (GC=F) prices pushed above $3100 for the first time on Monday, marking the third consecutive day the commodity has touched record highs. The price keeps pushing up as tariff worries and geopolitical tensions lead investors toward safe-haven assets.
- Reuters reports:
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