Dow futures drop 500 points after Trump hits Canada, Mexico and China with tariffs: Live updates
Published On Feb 2, 2025, 6:02 PM
President Trump has imposed new tariffs on goods from Canada, Mexico, and China, including a 25% tariff on imports from Canada and Mexico and a 10% tariff on imports from China. These tariffs have resulted in significant declines in stock futures, with the Dow down over 500 points, indicating a negative market reaction. Traders are also gearing up for a busy week of earnings reports from over 120 companies, amidst growing concerns about the impact of these tariffs on the economy and corporate profits, particularly in the technology sector.
Stock Forecasts
SPY
Negative
The overall sentiment in the market appears negative due to the newly imposed tariffs, which could strain economic relations and reduce corporate profitability. Given the futures drop and escalating trade tensions, it is likely that affected sectors, especially those heavily reliant on international trade, will see stock declines.
Related News
Trump Tariffs Threaten to Upend Global Economic Order
Feb 2, 2025, 3:35 PM
The invoking of national security to unravel trade agreements could scramble the international trading system in China’s favor.
Live: President Trump signs tariffs on Canada, Mexico, China
Feb 2, 2025, 2:43 PM
Yahoo Finance will chronicle the latest news and updates on Trump's tariffs — from the threats to the eventual policy.
Trump tariffs, more Big Tech earnings, and a jobs report: What to know this week
Feb 2, 2025, 7:50 AM
Trump's tariff plans are squarely in focus for investors amid another busy week on Wall Street that will include quarterly reports from more than 100 S&P 500 companies and the January jobs report.