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Stock futures slide after Trump announces tariffs

US stock market futures plunged Sunday, one day after President Donald Trump announced 25% tariffs on Canada and Mexico and 10% tariffs on China set to go into effect on Tuesday.

Dow futures were down 1.4%, or more than 600 points, while S&P 500 futures dropped 1.9%. The futures traded for the tech-heavy Nasdaq Composite were down 2.4% as of 6:36 p.m. ET. Bitcoin was also down 3.5% over the last 24 hours.

Hours after the Trump administration announced the tariffs, Mexican President Claudia Sheinbaum said her country will impose retaliatory tariffs, and Canadian Prime Minister Justin Trudeau announced “far-reaching” retaliatory levies. China’s Commerce Ministry said it will file a complaint with the World Trade Organization and “take corresponding countermeasures,” without elaborating.Economists warned that American families may bear the burden of these tariffs — and Trump posted to his Truth Social account that Americans could face “some pain.” The tariffs will make groceries more expensive because Mexico and Canada are the main sources of America’s imported agricultural goods. Gas, steel and cars are among other goods expected to be more expensive for American consumers.

CNN

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The stock market on Monday should be interesting....

Let's see what happens in the Far East tonight when their stock exchanges open...
Trading Hours in Asia and the Mideast

There are 11 time zones across Asia and its immediate neighbours, but fortunately, they roughly synchronize their exchange hours to create a good deal of overlap for the sake of trade and liquidity.
Some Asian markets, including the Shanghai Stock Exchange (SSE) and the Tokyo Stock Exchange (TSE/TYO), take a break for lunch.



Come on, Orange Marmalade, do something more stupid...

In reply to sgtdjones

Wonderful news

In reply to sgtdjones

In reply to camos

Japan’s Nikkei Stock Sheds over 1,000 Points in Morning

If the markets fall for an extended time and fall enough, Trump and his associates will back off of their scheme, nothing talks louder to them than money and keeping their rich donors cool

In reply to sgtdjones

I am expecting those declines to double by 5 am EST Monday, that is by the time Frankfurt and London markets open.

In reply to camos

I will agree.

The crap will hit the fan when the Dow Jones opens tomorrow...
Trump must make a deal with Mexico or Canada in phone calls tomorrow

Or Prediction: a drop that the exchange will stop all trading.

In reply to sgtdjones

More bluffs and negotiations. That's all. Watch them all come to some sort of agreement mid-week. Markets dump on Monday and bounce back before EOW

Trump’s walkback on Mexican tariffs sends stocks on the verge of a comeback


Just about everyone thought it was a bluff. Top analysts from the biggest banks on Wall Street said it was highly unlikely. Stocks were trading like it wouldn’t happen. Some companies built contingency plans, but they weren’t exactly rushing to make changes.But, globally, stocks crumbled. Major European indexes were down across the board, and Asian markets closed sharply lower. The US dollar rose sharply.Despite a lower 10% tariff on Canadian electricity, natural gas and oil exports to the United States, the energy industry said it will not be able to quickly or easily find alternate sources.That’s because the scope of the tariffs Trump set in motion Saturday was enormous: $1.4 trillion of imported goods, which is more than triple the $380 billion worth of foreign goods that were hit with tariffs during Trump’ first term, according to estimates from the Tax Foundation

And maybe it was, after all. US President Donald Trump and Mexico President Claudia Sheinbaum on Monday announced a deal to delay tariffs by a month after Mexico agreed to place 10,000 soldiers at the border.
That sent stocks on the verge of a comeback after they initially tumbled Monday. The Dow was down by around 130 points, or 0.3%, after tumbling nearly 600 points at the opening bell. The S&P 500 sank 0.7% and the Nasdaq Composite was 1% lower — both well off their lows.The corporate reaction was swift and fierce, as Trade Partnership Worldwide predicted the tariffs would add $700 million a day to US companies’ tax burdens. Massive business groups, including the powerful Chamber of Commerce, the National Association of Manufacturers and several energy trade groups lambasted the tariffs.

The jury’s still out. But the experiment appears to be on. We’ll find out soon enough.

In reply to sgtdjones

This is what business people do. Ya'll need to relax.

In reply to sgtdjones

And while everyone is distracted, the looting of the treasury by President Musk continues unabated.

In reply to DukeStreet

In reply to SnoopDog

Why is Musk getting all confidential information about americans ?
He doesnt have any security clearance as yet...

The senators and congress are all silent?

In reply to SnoopDog

He ain't my dotard. Where did you get this misinformation from, Snoopy? LOL. Pay attention. Learn how business works.

In reply to DukeStreet

In reply to SnoopDog

That's your Potus. Not mine. Yuh got to file complaint against he.

In reply to DukeStreet

You disavowed your "business man" dotard quick Bro.

In reply to sgtdjones

In reply to googley

A Mexican woman president ( he hates women) already had 10,000 troops on the border. Biden had already got them to send 10k troops to the border.
The orange moron should have asked for 10,000 more.

Trump also admitted and agreed to gun control, for which Mexico has a major lawsuit. Guns coming across the border for the cartels

Where are the magats? Trump got played by the President of Mexico. Canada won’t back down to Trump, either.