Stock market today: S&P 500, Nasdaq, Dow futures inch higher as markets brace for Trump tariffs

The imminent 25% tariffs on Canadian and Mexican imports could lead to a slowdown in trade with these countries, affecting companies reliant on these markets, such as those in manufacturing and retail. Investors should watch for potential retaliatory measures from impacted countries and how major corporations adjust their earnings forecasts.

With the new tariffs likely weighing on Nvidia's supply chain and profitability, the stock may continue to face pressure as the market digests the implications of export control enforcement and smuggling issues. The recent dip to the lowest levels since September raises concerns.

The broader markets could see volatility with these tariff announcements leading to uncertainty in consumer spending and broader economic indicators. Investors should be cautious and consider the impact on stock prices across sectors, particularly in retail and technology dependent on smooth trade relations.