FX.co ★ US Futures Tumble

US futures experienced a significant downturn on Monday, with contracts linked to major indices reflecting notable declines: S&P 500 contracts fell by 1.2%, the Nasdaq 100 experienced a 1.7% drop, and Dow Jones futures decreased by approximately 300 points. This downturn was driven by ongoing concerns about escalating trade tensions, which continue to negatively impact both the economic outlook and investor confidence. Reciprocal tariffs, poised to be implemented on April 2nd, include a 25% tariff on all automobiles not produced within the United States. President Trump announced that these tariffs would broadly apply to all countries, and reports indicate he has recently encouraged his advisors to take a more assertive approach toward trade policies. Among those affected, major companies like Nvidia (-4.2%), Amazon (-2.3%), Meta (-2.4%), Alphabet (-1.2%), and Tesla (-6.1%) felt the pressure, as did automotive giants General Motors (-2.2%) and Ford (-1.7%). For March, the S&P 500 has seen a decline of over 6%, marking its most substantial monthly drop since September 2022, while the Nasdaq has decreased by 8%, and the Dow has dipped by 5.2%. In the first quarter, the S&P 500 is down 5.1%, the Nasdaq has plunged 10.3%—its steepest fall since 2022—and the Dow has decreased by 2.3%.