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Dow futures drop more than 450 points after Trump hits U.S. trading partners with tariffs [1]
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Date: 2025-02-02
CNBC
Stock futures tumbled Sunday night to kick off a new trading month, as investors weighed new U.S. tariffs on goods from key trade partners and their potential impact on the economy and corporate profits.
Futures tied to the Dow Jones Industrial Average slid 463 points, or 1%. S&P 500 futures dropped 1.6%, while Nasdaq-100 futures lost 2.1%.
President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. The U.S. does about $1.6 trillion in business with the three countries.
Canada responded with retaliatory tariffs of its own, while Mexico said it would explore levies on U.S. imports. The Chinese government, meanwhile, said it would file a lawsuit with the World Trade Organization.
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