FX.co ★ US Stock Sell-Off Poised to Deepen

On Friday, U.S. stock futures saw further declines, with contracts for the S&P 500 and the Dow Jones dropping approximately 1.7%, while Nasdaq 100 futures decreased by 1.9%. This downturn adds to the previous session's sell-off, which had pushed the S&P 500 into correction territory. The trade tensions have escalated as China's finance minister announced a 34% tariff on all U.S. imports, mirroring the duties President Trump imposed on Wednesday. This has increased investor anxiety regarding potential economic repercussions, with economists cautioning about higher prices, a slowdown in growth, and the possibility of a recession. Investors are also keenly awaiting the upcoming jobs report and a speech by Federal Reserve Chair Jerome Powell for additional insight. Over the week, the Nasdaq has fallen by 4.5%, the S&P 500 by 3.3%, and the Dow by 2.5%.