U.S. stock futures retreated on Wednesday as Wall Street braced for President Trump to reveal details of sweeping new tariffs that promise to profoundly shake up U.S. trading relations worldwide. S&P 500 futures dropped roughly 0.5%, while Dow Jones Industrial Average futures slid 0.4%. Contracts on the tech-heavy Nasdaq 100 fell 0.6% as Tesla shares lost ground.
The day has finally arrived for Trump’s big tariff reveal, with markets anxiously waiting to see the details. There is significant uncertainty around the new reciprocal duties and their potential impact on the U.S. economy. Fears mount over a potential trade war as countries may respond with their own retaliatory tariffs.
Whatever Trump announces in the Rose Garden at 4 p.m. ET on Wednesday, the White House has stated that the tariffs will take effect immediately. The financial markets are on high alert, anticipating a significant reaction. In addition to the tariff announcement, investors are also eyeing the release of the March jobs report on Friday, aiming to gain insight into how the U.S. economy is holding up amid Trump’s fast-moving policy shifts.
U.S. stock market futures were mixed as traders awaited more information.
Markets react to Trump’s tariff announcement
The S&P 500 futures were down 0.5%, and the Dow Jones futures fell 0.4%, while the Nasdaq 100 futures slipped 0.6%.
Tesla shares experienced a decline amidst this uncertainty. Economic data to watch today include MBA Mortgage Applications for the week ending March 28, ADP Private Payrolls for March, Factory orders for February, and Durable goods orders for February. These reports might offer additional insights into the current economic conditions.
Newsmax stock hit a pause on its blistering post-IPO surge. Shares fell around 25% in premarket trading following a significant rally on Tuesday, which built on a 735% surge on Monday after the conservative news outlet’s public market debut. Once the dust settles on the tariff launch, eyes will inevitably turn to the release of the March jobs report on Friday for further insight into the U.S. economy’s performance amid President Trump’s policy shifts.
As of this morning, U.S. markets are set to open in a few hours, with investors closely watching how these developments unfold. Today’s focus remains firmly on President Trump’s tariff announcement and its potential impacts. With market volatility expected, investors are advised to stay informed and ready to respond to these significant economic events.
