Stock index futures are pointing sharply lower again as investors and analysts appear to be giving up hope that President Donald Trump will change his tariff policy any time soon. As Trump’s sweeping tariff plans hammer global markets, he has warned foreign governments they would have to pay “a lot of money” to lift the levies that he called “medicine.”
In commodities, gold prices have stabilized, supported by strong central bank demand and expectations of Fed rate cuts. Oil prices have continued to slide as escalating trade tensions fuel recession fears.
In pre-market trading, S&P 500 futures are down 2.3%, Nasdaq futures declined 2.4%, and futures for the Dow Jones Industrial Average are down 2%.
Check out the rest of the morning’s top movers from around Wall Street, compiled by The Fly.
HIGHER –
- Mesa Air (MESA) up 68% after Republic Airways and Mesa announced an agreement to merge and create “a leading publicly-traded regional airline company” in an all-stock transaction
- Dollar Tree (DLTR) up 2% after shares were upgraded to Buy at Citi
LOWER –
- Goldman Sachs (GS) down 4% amid market rout and as Morgan Stanley downgraded the shares to Equal Weight
- Tesla (TSLA) down 6% as Wedbush Securities analyst Daniel Ives, one of Tesla’s biggest bulls, slashed his price target on the stock by over 40% to $315 from $550
U.S.-LISTED CHINESE STOCKS LOWER AGAIN –
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Read More on TSLA:
- Analysts Remain Sidelined on Nio Stock as Multiple Challenges Weigh on the EV Maker
- Tesla shares plunge below Commerce Secretary’s predictions, Bloomberg says
- Tesla price target lowered to $315 from $550 at Wedbush
- Tesla’s Price Target Slashed by 43% by Daniel Ives, Citing Tariffs and Brand Crisis
- Black Monday 2.0? Trump Tariffs Spark Fear of Global Stock Market Havoc on April 7