From Yahoo Finance: 2025-04-06 18:56:00

Asian markets faced a tough start as U.S. recession fears grew, causing S&P 500 futures to drop 3.9% and Nasdaq futures to dive 4.8%. Nikkei futures fell almost 4%, signaling potential market losses ahead. Treasury futures surged, indicating expectations of a rate cut by the Federal Reserve as soon as May.

White House tariff plans and China’s retaliatory levies escalated market concerns, leading to a flight to safe havens. Dollar weakened against the yen, while euro remained steady. JPMorgan’s head of economics warned of a 60% risk of recession due to sustained U.S. trade policies, predicting Fed rate cuts through January.

Oil prices remained under pressure, with Brent falling to $63.53 and U.S. crude dropping to $59.92 per barrel. Gold also saw a 0.6% decline to $3,018 per ounce. Global growth concerns contributed to the selloff in commodities.

Read more: Wall St futures, oil plunge, markets bay for US rate cuts