Stock market today: Dow, S&P 500, Nasdaq futures slide as Trump orders new tariffs
Published On Feb 10, 2025, 8:20 PM
US stock futures have dropped in reaction to President Trump’s announcement of a 25% tariff on steel and aluminum imports, set to take effect on March 4. The S&P 500 futures slipped by 0.2%, while Dow and Nasdaq futures also saw declines. This move poses potential challenges for tech companies, especially those struggling with investor confidence in light of recent earnings reports from major firms like Amazon, Google, Apple, Nvidia, Microsoft, and Tesla. Additionally, Meta announced layoffs impacting 5% of its workforce in a push for AI talent. In commodities, coffee prices surged to an all-time high due to low supply and high demand, while gold reached record prices amid market uncertainty.
Stock Forecasts
SPY
Negative
The announced tariffs are likely to exacerbate market volatility and could lead to a downturn in the industrial and materials sectors, making those stocks vulnerable. Investors may also view the tech sector with caution due to mixed earnings reports.
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