U.S. stock futures were mixed on Wednesday, as investors braced for President Donald Trump’s newly imposed tariffs, which took effect today. Futures on the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) were down 0.39% and 0.17%, respectively, at 4:54 a.m. EST, April 9, while the Nasdaq 100 (NDX) futures were up 0.2%.
Over the past four days, President Trump’s tariffs, including a steep 104% tariff on Chinese goods, have triggered a major decline in global equity markets. The Dow Jones and the S&P 500 have declined over 4.5% and 12%, respectively. The tech-heavy Nasdaq Composite (NDAQ) has fallen by more than 13% during the same period.
Tuesday’s trading session was particularly volatile, with the S&P 500 staging a more than 4% intraday rally before ultimately closing down by 1.6%. Also, it is on the brink of entering a bear market. Similarly, the Dow Jones and the Nasdaq Composite ended the day with a 0.8% and 2.15% loss, respectively. Importantly, investors anticipate continued volatility as the tariffs take effect.
Beyond the tariffs, investors are looking ahead to the release of the Federal Reserve’s meeting minutes for insights into the central bank’s monetary policy outlook amid the growing trade tensions.
On the earnings front, Delta Air Lines (DAL), Constellation Brands (STZ), and Simply Good Foods (SMPL) are slated to report their quarterly numbers today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.351%. Simultaneously, WTI crude oil futures are trending lower, hovering near $57.37 per barrel as of the last check.
Elsewhere, European indices opened in the red today, as U.S. tariffs targeting specific countries came into effect.
Asia-Pacific Markets Traded Mixed on Wednesday
Asia-Pacific indices were mixed today. Chinese and Hong Kong stocks gained after Premier Li Qiang said that China is capable of managing external woes, such as the new 104% U.S. import tariffs.
At the same time, Hong Kong’s Hang Seng Index was up 0.68%. Further, China’s Shanghai Composite and the Shenzhen Component indices gained 1.31% and 1.22%, respectively. However, Japan’s Nikkei and Topix indices closed lower by 3.93% and 3.4%, respectively.
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