Stock market today: Dow, S&P 500, Nasdaq futures slide as tariff-pause euphoria gets a reality check

1 week ago 4

Updated Thu, Apr 10, 2025, 5:05 AM 2 min read

S&P 500 futures (ES=F) dropped 1.6%, portion those connected the tech-heavy Nasdaq 100 (NQ=F) tumbled 1.9%. Dow Jones Industrial Average futures (YM=F) fell 1.3%, oregon astir 500 points. The 10-year Treasury yield, (^TNX) successful precocious absorption amid enslaved marketplace whiplash, fell to astir 4.3%.

Markets connected Wednesday breathed a loud, corporate suspiration of alleviation aft Trump paused galore of the largest US tariff hikes connected trading partners, with stocks notching 1 of their biggest one-day rallies since World War II.

But present Wall Street is weighing Trump's singular escalation successful the US commercialized conflict with China, aft helium raised levies connected imports from the state to a whopping 125%. That hike came aft Beijing raised its tariff connected US goods to 84% successful retaliation to an earlier hike.

CME - Delayed Quote USD

As of 8:00:49 AM EDT. Market Open.

ES=F YM=F NQ=F

"The commercialized warfare is present turning into a nonstop confrontation betwixt the US and China ... we could again beryllium seeing escalation and de-escalation astatine the aforesaid time, pulling markets successful antithetic directions," Rabobank analysts said.

And though a wider commercialized warfare is connected hiatus, risks stay to the wellness of the US economy, and Trump's determination is "merely the extremity of the beginning," according to JP Morgan.

Other parts of the president's trade-policy overhaul are inactive successful effect, including a 10% baseline tariff connected astir trading partners, 25% duties connected alloy and aluminum imports, and 25% duties connected car imports. Those elements could inactive pb to consequences analysts person warned about, specified arsenic rising prices and slower economical growth.

Read more: Live updates connected Trump tariffs fallout

Some alleviation came connected Thursday greeting arsenic the EU said it volition clasp disconnected from implementing counter-tariffs connected US goods for 90 days, matching Trump's pause.

Later successful the morning, investors get a snapshot of mostly pre-tariff ostentation with the merchandise of March's Consumer Price Index. A play speechmaking connected jobless claims volition supply a much timely representation of the labour market, arsenic respective Fed officials measurement up to talk during the day.

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Europe stocks leap arsenic EU matches Trump's tariff pause

Stocks successful Europe surged connected Thursday, successful opposition to connected Wall Street, arsenic investors welcomed President Trump's U-turn connected "reciprocal" tariffs for galore of the countries targeted.

Helping assistance spirits was the EU's determination to enactment its retaliatory tariffs against the US connected hold, matching Trump's 90-day intermission connected his sweeping "reciprocal duties.

The pan-European Stoxx 600 (^STOXX) benchmark climbed 5.1%, having surged by the astir successful 5 years astatine the open.

Germany's benchmark DAX scale (^GDAXI) climbed 5.6%, portion France's CAC (^FCHI) successful Paris roseate 5%. In London, the FTSE 100 (^FTSE) precocious 4.2%.
US Steel shares descent aft Trump says helium doesn't privation it to 'go to Japan'

US Steel (X) banal fell 10% successful premarket aft President Trump said helium didn't privation the American shaper to "go to Japan" suggesting helium opposes Nippon Steel's $14 cardinal bid for the company.

Shares were past trading astatine $40.64 each, good beneath Nippon Steel's $55 a stock connection price.

Trump's comments travel conscionable days aft helium told a US nationalist information sheet connected Monday to instrumentality a caller look astatine the projected deal, lifting hopes it could get a so-far elusive greenish light.

Reuters reports:

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March CPI study could beryllium past clip investors spot ostentation easing

Yahoo Finance's Allie Canal reports:

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The 'Trump put' makes an appearance

Yahoo Finance's Hamza Shaban reports:

This is the takeaway from today's Morning Brief. Read much here.
Good morning. Here's what's happening today.
TSMC reveals archetypal 4th gross net good supra marketplace expectations
Oil prices driblet arsenic commercialized warfare with China continues to dispersed uncertainty

Oil prices dropped arsenic US President Donald Trump continued to escalate his commercialized warfare with China. A 90-day intermission connected 'reciprocal' tariffs failed to bolster the commodity's terms globally.

Reuters reports:

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Asian markets pump arsenic intermission connected tariffs builds affirmative sentiment

Asian markets rebounded sharply aft President Trump announced a 90-day intermission connected tariffs affecting the bulk of countries crossed the region. However, caution lingered arsenic traders remained uncertain astir a semipermanent resolution, though Japanese and South Korean indexes saw their biggest gains since August.

Bloomberg reports

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