Stock futures drop once more as Trump stays defiant on tariffs plan roiling worldwide markets | EUROtoday

U.S. inventory futures dropped once more on Sunday night after the markets suffered a massacre through the week following President Donald Trump’s tariffs announcement.

The Dow Jones Industrial Average futures have been down 4.1 %, or 1,531 factors, late on Sunday, whereas S&P 500 futures dropped 4.6% and Nasdaq 100 futures fell 5.3 %.

As the information emerged, Trump put out an announcement on his social media platform insisting that he would observe via on his insurance policies, regardless of them roiling the markets and threatening to disrupt the worldwide monetary order.

He wrote: “We have massive Financial Deficits with China, the European Union, and many others. The only way this problem can be cured is with TARIFFS, which are now bringing Tens of Billions of Dollars into the U.S.A. They are already in effect, and a beautiful thing to behold. The Surplus with these Countries has grown during the “Presidency” of Sleepy Joe Biden. We are going to reverse it, and reverse it QUICKLY. Some day individuals will notice that Tariffs, for the United States of America, are a really stunning factor!”

Stocks have been anticipated to open decrease on Monday.

The disaster was sparked on Wednesday when Trump unveiled a wide-ranging plan to impose a variety of tariffs on most nations the world over on what he known as “Liberation Day.” While the announcement was lengthy anticipated, the main points have been extra extreme than anticipated, sending markets right into a spiral and prompting retaliatory tariffs from China. Revelations about how the U.S. tariffs had been calculated undermined confidence within the coverage.

Speaking to reporters on Air Force One on Sunday night as he flew again to Washington, D.C. after a weekend {golfing} in Florida, Trump mentioned a number of world leaders had been calling him and being very “solicitous” in discussions about his new tariffs regime. However, he declined to call any of the nations he had spoken to, saying he didn’t know whether or not the conversations had been personal or not.

“I spoke to a lot of Europeans, Asians, all over the world. They’re dying to make a deal. What’s going to happen to the markets I can’t tell you. But our country is much stronger.”

Asked if he had crashed the markets on function, after he shared a video on his Truth Social platform suggesting this was a deliberate a part of his financial technique to weaken the greenback, he replied: “No that‘s not so. But I do want to solve the deficit we have with China, the European Union and other nations.”

And asked if he had a threshold in mind for how low he was willing to see the stock market drop, he said: “I think your question is so stupid. I don’t need something to go down. But generally you must take drugs to repair one thing.”

The inventory market had closed on Friday with the Dow Jones dropping 2,231 factors and the S&P 500 dropping 6 % in response to Trump’s tariff plan.

Last week was the worst for the inventory market since 2020. Market-wide losses during the last two days now whole a record-breaking $6.4 trillion, based on the Wall Street Journal.

More follows …