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February 3, 2025

Stock Markets Plunge: Tariff Impact Felt as Trump Targets Major Economies

U.S. stock index futures took a nosedive this past Sunday evening, following President Trump’s sweeping tariff imposition on Canada, Mexico, and China. This bold move heightens global trade tensions and creates immediate backlash across markets.

Key market reactions include:

  • S&P 500 Futures: Down 1.6% to 5,970.25 points
  • Nasdaq 100 Futures: Down 2.4% to 21,089.25 points
  • Dow Jones Futures: Down 1.1% to 44,233.0 points
  • U.S. Dollar: Strengthened amid trade war concerns
  • Canadian Dollar and Mexican Peso: Sharply weakened

Friday’s losses on Wall Street added to the anxious atmosphere, as inflation data pointed to persistent pressures that could complicate Federal Reserve policy decisions moving forward. The introduced tariffs are expected to further inflate prices, raising concerns among consumers and investors alike.

As repercussions unfold, investors should stay alert for Fed Chair Jerome Powell’s upcoming comments and corporate earnings reports that may influence market dynamics.

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