- American stocks are ready to continue the free fall drop As futures signaled more fear of tariffs for President Donald Trump. Representatives of the administration and Trump himself said on Sunday that they would not retreat from their aggressive position. Meanwhile, the inflation report should be at the end of this week, as well as banks’ profits.
Wall -Rate remained in fear of President Donald Trump’s tariffs on Sunday night, as futures indicated more losses.
Chain Jones Industrial Futures fled 1 302 points, or 3.3%, while S&P 500 futures sank 3.9% and Nasdaq Futures dived by 4.9%. This implies a devastating week, which has seen the worst sale from the first days of the Covid-19 pandemic.
The 10-year treasury decreased by 8.5 basic points to 3.906%, and crude oil prices decreased by 3.7% to $ 59.72 per barrel.
On Wednesday, Trump announced a minimum rate of 10%and higher rates for 57 economies such as China (34%), European Union (20%) and Japan (24%). Fitch ratings It has estimated that an effective tariff rate can reach 25% on average – the highest than 115 years.
Former Finance Minister Larry Sammers on caution in X Message On Sunday, saying there is a very good chance of a great market turbulence, similar to what was noticed on Thursday and Friday.
These classes were the fourth largest fall in the last 85 years, the summer said. Selloof reduced about $ 6 trillion.
“The fall of this value indicates that there will probably be problems ahead, and people should be very careful,” Sammers wrote.
Meanwhile, the Trump administration and the president himself defended the tariffs.
“I do not want to go down, but sometimes you need to take a medicine to fix something,” Trump told reporters when asked about the market.
He pointed to the US trading deficit with China and said he was ready to make a deal, “but they should solve their excess.”
Earlier said the director of the National Economic Council Kevin Hasset News ABC What more than 50 countries went to the White House to agree on tariffs.
But as long as the secretary of trade, Howard Lutnit, said the tariffs would remain and will not be postponed. While a minimum of 10% tariff came into force at the beginning of Saturday, individual levies Play on Wednesday.
“They are definitely going to stay in place and weeks,” he said Cbs.
In response to the broad Trump tariffs, Jpmorgan He now sees the recession, and this year’s GDP has decreased by 0.3%. But Finance Minister Scott Igent said there should be no recession on Sunday, and call the shares of a short -term reaction.
“The only thing I can tell you as the Finance Minister I was very impressed is the market infrastructure we had on Friday’s record volume. And everything works very smoothly, so the American people can comfort this,” he said Nbc.
The infant also gaveno signs that Trump retreatsof these aggressive tariffs.
On Friday, the chairman of the federal reserve system Jerome Powell warned that wide tariffs could push inflation above, cooling the expectation for a rapid reduction in interest rate.
The markets will receive inflation update on Thursday, when a report on the Consumer Price Index is released, giving an idea of where the inflation went before the latest tariffs suffered.
In addition, the profit season for the first quarter results will start this week as JPMorgan, Wells Fargoand Black Report on Friday.
A comment from the top heads about tariffs and their forecasts about how they touch their companies will be under special control.
Originally this story was presented on Fortune.com
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2025-04-07 00:40:00
Stuart Dyos
