U.S. stock futures declined on Monday after President Donald Trump announced plans to boost global tariffs, responding to a recent Supreme Court decision invalidating parts of his prior trade strategy.
As of 4:50 P.M. (GMT+7), Dow Jones Industrial Average futures fell by 0.26%, or 126.70 points, to 49,499.30 points, while S&P 500 futures slipped by 0.20%, or 13.60 points, to 6,895.90 points. Nasdaq 100 futures also decreased by 0.31%, or 77.10 points, to 24,935.50 points.
The retreat in futures followed a turbulent end to last week’s trading, when the Supreme Court struck down Trump’s reciprocal tariff framework. That ruling initially lifted market sentiment, with traders anticipating a possible pause in escalating trade tensions.
In response to the court ruling, Trump stated he would immediately lift the baseline tariff rate on imports to 15%, though it remained uncertain if a formal directive had been enacted as of Monday.
Separately, investors monitored geopolitical developments as talk grew that Washington might consider a military response to Iran amid a stalemate in ongoing nuclear discussions. Nevertheless, another round of negotiations is expected to commence Thursday in Geneva.
Meanwhile, traders are watching the end of earnings season for further direction. On Tuesday, Home Depot will provide insight into consumer spending with its quarterly results. Nvidia and Salesforce are set to report on Wednesday, offering additional guidance into the technology sector’s outlook.
