US stock futures drop as Trump plans new tariffs, causing potential losses for markets.
From Yahoo Finance: 2025-03-30 18:31:00
US equity futures dropped in early Asia trading ahead of Trump unveiling new trade tariffs. Crude rose after the President threatened “secondary” levies on Russian oil. S&P 500 and Nasdaq 100 futures fell over 0.5%, signaling potential losses for the world’s biggest economy. Australian and New Zealand dollars also edged lower.
US stocks slumped on Friday amid consumer sentiment plunge, soft spending, and price increases. Trump set to announce reciprocal tariffs Wednesday, with US jobs report and Fed Chair Powell’s comments also due this week. Markets bracing for volatility and lower levels in risky assets.
Oil prices climbed after Trump mentioned “secondary tariffs” on Russian oil. Russia, the third-largest crude producer, could have significant effects on the global economy. S&P 500 hit a two-week low, VIX Index surged above 22. US Treasuries rallied, leading to declines in Australian and New Zealand bond yields.
Asian traders monitoring Chinese factory data for stimulus impact. Chinese state banks planning $72 billion in placements to boost capital. China’s finance ministry to invest $69 billion in deal. Thai markets set to reopen after quake. Australia’s central bank likely to hold rates amid election.
European activity data expected this week. US jobs data to be closely watched. Barclays strategists note growing concern over tariff uncertainty’s impact on US economy. Stock futures fell in Asia: S&P 500 by 0.6%, Nasdaq 100 by 0.8%, Hang Seng by 0.6%, S&P/ASX 200 by 1.1%, Nikkei 225 by 1.9%.
Read more: US Stock Futures Tumble Ahead of New Trump Tariffs: Markets Wrap