FX.co ★ US Futures Plunge

U.S. stock futures plummeted on Thursday following President Trump's recent announcement regarding tariffs. Futures linked to the S&P 500 dropped by 3.4%, Nasdaq 100 futures fell by 3.9%, and Dow Jones futures declined by approximately 1,200 points. On Wednesday, Trump introduced a 10% baseline tariff on all imports, scheduled to commence on April 5. This move includes significantly higher duties for around 60 countries: 54% for China, 20% for the European Union, and 46% for Vietnam. Both China and the EU have already vowed to implement retaliatory actions, heightening concerns about an extended trade conflict, a potential U.S. recession, and increasing inflationary pressures. Companies with extensive global supply chains and a heavy dependence on imports experienced significant setbacks, with Apple's shares down 7.3% in premarket trading and Nike's falling 11.3%. Major technology stocks also endured notable declines, including Microsoft (-2.7%), Nvidia (-5.2%), Amazon (-5.5%), Meta (-4.6%), Alphabet (-2.6%), and Tesla (-5.6%).