Stock futures are pointing to a sharply lower open after President Trump announced sweeping new tariffs, ranging from 10% to 41%, on imports from over 90 countries, including Canada, Brazil, India, Taiwan and others. Markets also reacted negatively to Amazon’s earnings outlook despite the e-commerce giant beating Q2 results, while Apple shares are modestly higher on better-than-expected results.
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Asia-Pacific markets declined amid tariff fears, while Japan’s KOSPI and Nikkei underperformed. European equities also dropped to four-week lows, hit by new U.S. tariffs and weak pharma and consumer discretionary names.
In pre-market trading, S&P 500 futures fell 0.89%, Nasdaq futures fell 1.04% and Dow futures fell 0.81%
Check out this morning’s top movers from around Wall Street, compiled by The Fly, and subscribe to the daily Fly By if you want to know how the markets will open, which stocks will be moving and why.
UP AFTER EARNINGS –
DOWN AFTER EARNINGS –
- Fluor (FLR) down 18%
- Newell Brands (NWL) down 8%
- Moderna (MRNA) down 6%
- Insperity (NSP) down 4%
- LyondellBasell (LYB) down 2%
- Colgate-Palmolive (CL) down 1%
- Amazon.com (AMZN) down 7%
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