Stock market today: Dow, S&P 500, Nasdaq futures slump as Trump's China tariffs come into effect
Published On Feb 4, 2025, 1:43 AM
U.S. stock futures have dropped as President Trump’s tariffs on Chinese goods came into effect, leading to immediate retaliatory measures from China. Nasdaq futures went down 0.3%, S&P 500 futures dipped 0.2%, and Dow futures fell 0.3%. Notably, companies with significant exposure to China saw their shares decline, including Apple (AAPL) which fell 3.39% and Tesla (TSLA) which plunged 5.17%. Meanwhile, Palantir's shares soared 23.9% after good revenue forecasts, providing some positive news amid the market climate.
Stock Forecasts
AAPL
Negative
The implementation of tariffs is likely to create a ripple effect leading to decreased earnings in tech companies heavily reliant on China, which could further depress stock prices as investor sentiment becomes cautious. This could negatively impact broader market indices like the Nasdaq and S&P 500.
PLTR
Positive
The surge in Palantir shares indicates strong investor confidence and operational stability. Given its positive outlook in a troubled market, it may continue to attract investment, suggesting resilience against sector-wide slowdowns.
NVDA
Negative
Nvidia’s (NVDA) connection with China means the company could face similar pressures as other tech firms, leading to concerns among investors about possible earnings declines due to tariff impacts. This could cause the stock to trend lower in the near term despite any short-term recoveries.
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