U.S. stock futures were down early Monday, as investors braced for “Liberation Day,” when U.S. President Donald Trump will roll out new tariff measures. These tariffs, set to take effect on April 2, include a 25% levy on foreign-made cars and reciprocal tariffs targeting trade partners. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 1.29%, 0.59%, and 0.88%, respectively, at 5:06 a.m. EST, March 31.
Also, Trump’s recent remarks, like dismissing concerns about higher car prices, have worried investors. Reports indicate he is urging advisors to push for tougher tariffs, adding to fears of a trade war.
This policy uncertainty and its potential impact on the broader economy have led to monthly losses across major indices. The S&P 500, the Dow Jones, and the Nasdaq Composite (NDAQ) are down 6.3%, 5.2%, and 8.1%, respectively.
Looking ahead, this week’s economic calendar includes the release of S&P final U.S. Manufacturing and Services Purchasing Managers’ Index (PMI), Construction Spending, ADP employment, and much much-awaited March U.S. Employment report. These data points will provide insights into the health of the US economy.
On the earnings front, companies like PVH (PVH), BlackBerry (BB), Restoration Hardware (RH), Conagra Brands (CAG), and Constellation Brands (STZ) are slated to release their quarterly numbers this week.
At the time of writing, the U.S. 10-year treasury yield was down, floating near 4.198%. Simultaneously, WTI crude oil futures are trending higher, hovering near $69.80 per barrel as of the last check.
Elsewhere, European indices opened lower today as investors remain cautious ahead of new reciprocal tariffs on U.S. imports, which are set to take effect on Wednesday.
Asia-Pacific Markets Ended Lower on Monday
Asia-Pacific indices were mixed today due to growing concerns over upcoming U.S. tariffs. It must be noted that Japan’s Nikkei led the declines and entered correction territory.
At the same time, Hong Kong’s Hang Seng Index was down 1.31%. Further, China’s Shanghai Composite and Shenzhen Component indices declined 0.46% and 0.97%, respectively. Also, Japan’s Topix and Nikkei indices ended lower by 3.57% and 4.05%, respectively.
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