Wall Street followed global markets sharply lower Thursday after U.S. President Donald Trump announced tariffs on imports of goods from around the world.
The double-digit tariff hikes rippled through world markets and economists are warning that the risk of recession is climbing.
Futures for the S&P 500 slumped 3.4% before the bell, while Dow Jones Industrial Average futures lost 2.8%, auguring potential losses when U.S. markets reopen in a couple hours. Nasdaq futures tumbled 3.8%.
Oil prices fell more than 4% and the U.S. dollar hit its lowest level against the Japanese yen since early October.
It was the fourth straight day that U.S. markets have begun falling early, though unlike the previous three, it appears unlikely that stocks will recover by day’s end.
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Article URL : https://apnews.com/article/stocks-markets-rates-tariffs-52dbb020a4c41122e31669c2da236d67