FX.co ★ US Stock Futures Dive as Bear Market Looms Amid Escalating Trade War

U.S. stock futures experienced a significant decline on Monday, marking the third consecutive session of market downturn, as the White House continued to push forward with imposing aggressive tariffs on major trading partners despite existing market volatility. Futures for the Dow and S&P 500 fell by 2.8% and 2.3%, respectively, placing them around 20% below their historical peaks and hinting at the potential advent of a bear market. Concurrently, the Nasdaq dropped 3%, already having been confirmed in a bear market territory since the previous week, amidst escalating recession concerns prompted by President Trump's extensive tariff measures. On Friday, China retaliated by announcing a 34% tariff on all U.S. imports in the absence of negotiations. President Trump maintained his stance that tariff reductions would not occur until the trade imbalance with China was corrected. Reports also suggested that both Canada and the EU are contemplating similar strategies. The selloff notably affected major technology stocks, with Apple experiencing a 25% decline year-to-date, Nvidia down by 20%, and Microsoft decreasing by 14.6%.