Today, the White House announced its comprehensive new trade policy, causing declines in U.S. and global stock markets.
The announcement includes heavy tariffs on many trade partners, up to 50%, along with a 50% tariff on semi-finished copper products, and the elimination of the de minimis exemption for low-value imports under $800.
Today, stock futures were under pressure, with futures linked to the Dow Jones Industrial Average falling by 366 points, or 0.8%. Meanwhile, S&P 500 futures dropped 0.9%, and Nasdaq-100 futures declined 1%.
The Stoxx 600 decreased by about 1% in the first hour of trading, down 1.7% for the week, marking its largest weekly decline since early April.
Today’s market was also influenced by the latest Big Tech earnings, with Amazon shares dropping over 7% after the company issued a cautious operating income forecast for the current quarter. Meanwhile, Apple’s shares rose 2% following better-than-expected earnings and revenue.
Currently, analysts hold a bullish outlook for the S&P 500, anticipating the U.S. market to open slightly below previous levels by less than 1%. However, future prospects remain uncertain as additional trade deals are announced.
By CEO NA Editorial Staff
