Trump’s Tariffs Shake Markets: Dow Futures Slide, Crypto Liquidations Top $1B
Global markets are bracing for volatility as President Trump’s recent tariff announcement has sent U.S. stock futures plummeting and triggered over $1 billion in crypto liquidations. Late Sunday, Dow futures fell 1.2%, while S&P 500 and Nasdaq futures dropped 1.9% and 2.7%, respectively, ahead of tariffs set to take effect on Monday. Bitcoin and Ethereum faced significant downturns, down 5% and 10%, while Dogecoin and XRP saw declines of 19%. The tariffs include 25% on Mexican and Canadian goods and 10% on Chinese imports, raising inflation concerns and could influence the Federal Reserve's interest rates throughout 2025. Market analysts express worries that these trade tensions may dent corporate profits and stifle growth expectations moving forward, especially ahead of a crucial earnings week for the S&P 500. Despite the currently turbulent environment, some experts believe the severe market reaction may be overstated, suggesting early termination of trade tensions might still occur.
Source 🔗