U.S. stock futures drop amid Trump tariff uncertainty
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- U.S. stock futures fell on Sunday, with Dow Jones futures down about 327 points (0.7%), S&P 500 futures down 0.34%, and Nasdaq‑100 futures down 0.59%.
- Supreme Court on Friday overturned most of President Donald Trump’s tariffs, prompting the market reaction.
- President Donald Trump announced a 10% global tariff for up to 120 days on Friday and raised it to 15% on Saturday, invoking Section 122 of the Trade Act of 1974.
- West Texas Intermediate crude slipped roughly 1% as reports suggested the administration might launch a limited strike on Iran.
- Bitcoin fell as much as 5% on Sunday, trading below $65,000, while gold and silver rose despite being down from recent highs.
- European Union asked the United States for “full clarity” and expects the U.S. to honor the trade deal reached last summer, regardless of the Court’s ruling.
- Jamieson Greer said on CBS’s 'Face the Nation' that the United States will honor its trade agreements and that Trump’s trade policy will continue, with only the tools changed.
Why it matters: The dip in futures reflects investors’ immediate risk assessment of Trump’s renewed tariff threats, which keep equity markets under pressure even after the Court’s ruling; commodity prices and crypto also reacted, while the EU’s call for clarity underscores the diplomatic stakes of the policy shift.
