FinancialfocusHub.com
  • Home
  • Crude Oil
  • Cryptocurrency
  • Forex
  • Funds
  • Gold
  • Insurance
  • News
  • Stocks
No Result
View All Result
  • Home
  • Crude Oil
  • Cryptocurrency
  • Forex
  • Funds
  • Gold
  • Insurance
  • News
  • Stocks
No Result
View All Result
FinancialfocusHub.com
No Result
View All Result
ADVERTISEMENT

Futures Fall 1,300 Points As Trump Defends Tariffs As A ‘good Solution’ To Trade Deficits

Alice by Alice
2025-04-07
in Stocks
Stocks

Stocks

ADVERTISEMENT

U.S. stocks are set to continue their sharp decline as futures markets grow concerned about President Donald Trump’s tariffs. Administration officials and Trump himself said on Sunday that they will not back down from their aggressive stance. Meanwhile, inflation reports are due later this week, as well as bank earnings reports.

Wall Street remained fearful of President Donald Trump’s tariffs late Sunday as futures pointed to further sharp declines.

ADVERTISEMENT

Dow Jones Industrial Average futures fell 1,302 points, or 3.3%, S&P 500 futures fell 3.9%, and Nasdaq futures fell 4.9%. The week before, stocks experienced their worst sell-off since the early days of the coronavirus outbreak.

ADVERTISEMENT

The 10-year Treasury yield fell 8.5 basis points to 3.906%, and U.S. crude oil fell 3.7% to $59.72 a barrel.

ADVERTISEMENT

On Wednesday, Trump announced tariffs of at least 10% on 57 economies, with higher tariffs to be imposed on 57 economies, including China (34%), the European Union (20%) and Japan (24%). Fitch Ratings estimates that the effective tariff rate could average 25%, the highest in 115 years.

Former U.S. Treasury Secretary Larry Summers expressed caution in an X post on Sunday, saying there is a good chance of more market turmoil similar to Thursday and Friday.

Summers said the two-day drop was the fourth largest two-day drop in the past 85 years. The sell-off caused the market value to evaporate by about $6 trillion.

“A drop of this magnitude means there may be trouble ahead, and people should be very cautious,” Summers wrote.

Meanwhile, the Trump administration and the president himself have defended the tariffs.

When asked about the market plunge, Trump told reporters: “I don’t want anything to happen, but sometimes you have to take medicine to solve problems.”

He pointed to the U.S. trade deficit with China and said he was willing to make a deal, “but they have to solve their surplus problem.”

Earlier, Kevin Hassett, director of the National Economic Council, told ABC News that more than 50 countries have contacted the White House to negotiate tariffs.

But for now, Commerce Secretary Howard Lutnick said the tariffs will remain in place and will not be delayed. The lowest tariff of 10% took effect early Saturday, while individual levies will take effect on Wednesday.

“They will certainly stay in place for days and weeks,” he told CBS.

In response to Trump’s sweeping tariffs, JPMorgan now believes the U.S. will fall into a recession, with GDP shrinking 0.3% this year. But Treasury Secretary Scott Bessant said Sunday that a recession is not inevitable and called the stock market sell-off a short-term reaction.

“One thing I can tell you as Treasury secretary is that I’m impressed with the market infrastructure, and we had record volumes on Friday. Everything is running very smoothly, so the American people can feel very comfortable about that,” he told NBC.

Bessant also stopped short of saying Trump would abandon the aggressive tariffs.

Federal Reserve Chairman Jerome Powell warned on Friday that the massive imposition of tariffs could push up inflation, dampening expectations of an imminent rate cut.

Markets will get their latest update on inflation Thursday when the March Consumer Price Index report is released, giving a sense of where inflation is headed before the latest tariffs.

Also, first-quarter earnings season kicks off this week with reports from JPMorgan Chase, Wells Fargo and BlackRock on Friday.

Related topics:

  • How to Buy Steel Stocks
  • How to Sell Stocks
  • How to Analyze Bank Stocks
ADVERTISEMENT
Previous Post

Sec To Reassess Biden-Era Cryptocurrency Guidelines

Next Post

Global Markets Brace For Turbulence

Alice

Alice

Related Posts

Packaging Corp. (Nyse: Pkg) Reports Q1 Sales Growth, Shares Drop
Stocks

Packaging Corp. (Nyse: Pkg) Reports Q1 Sales Growth, Shares Drop

2025-05-01
Stocks18
Stocks

U.S. Stocks Rebound As Traders Regain Risk Appetite

2025-05-01
Stocks4
Stocks

6 Types Of Stocks Worth Investing In

2025-04-30
How To Buy Stocks Online: A Step-By-Step Guide
Stocks

How To Buy Stocks Online: A Step-By-Step Guide

2025-04-30
What Are Multiplier Stocks?
Stocks

What Are Multiplier Stocks?

2025-04-30
What Is Diversification In Stocks?
Stocks

What Is Diversification In Stocks?

2025-04-30
What Are Vested Stocks?
Stocks

What Are Vested Stocks?

2025-04-29
What Is Dilution in Stocks?
Stocks

What Is Dilution in Stocks?

2025-04-29
What Are Puts in Stocks?
Stocks

What Are Puts in Stocks?

2025-04-29
Next Post
Stocks

Global Markets Brace For Turbulence

Insurance15

What Is The Penalty For Not Having Health Insurance In Massachusetts?

Insurance

Where Can I Find My Title Insurance Policy?

Popular Articles

How Much Is 900 Yen in Usd?
Forex

How Much Is 900 Yen in Usd?

by jingji05
2025-04-27

Currency exchange rates play a crucial role in global finance, affecting trade, investments, and personal transactions. One common question is...

5 Factors That Influence The Rise Of The Us Dollar

5 Factors That Influence The Rise Of The Us Dollar

2025-04-29
How to Shop for Car Insurance?

How to Shop for Car Insurance?

2025-04-30
How do I Add Insurance to Mdlive?

How do I Add Insurance to Mdlive?

2025-04-30
Sec’s Peirce Urges Clearer Crypto Rules Amid ‘lava Floor’ Critique

Sec’s Peirce Urges Clearer Crypto Rules Amid ‘lava Floor’ Critique

2025-04-28
How to Get Gap Insurance Refund from Dealership?

How to Get Gap Insurance Refund from Dealership?

2025-04-24
What Are Vested Stocks?

What Are Vested Stocks?

2025-04-29
How to Cancel Hippo Insurance?

How to Cancel Hippo Insurance?

2025-04-26

Recent Posts

How to Cash Out USD on Coinbase
Forex

Why The Us Dollar Is Stagnant?

by Alice
2025-05-01

USD Coin (USDC) is one of the most prominent stablecoins in the cryptocurrency market. Unlike many other digital assets, USDC...

Insurance26

What Is Engineering Insurance?

2025-05-01
Packaging Corp. (Nyse: Pkg) Reports Q1 Sales Growth, Shares Drop

Packaging Corp. (Nyse: Pkg) Reports Q1 Sales Growth, Shares Drop

2025-05-01
Stocks18

U.S. Stocks Rebound As Traders Regain Risk Appetite

2025-05-01
6 Effective Ways To Exchange USD

6 Effective Ways To Exchange USD

2025-05-01
Insurance14

Getting Money From Life Insurance: A Step-By-Step Guide

2025-05-01
Wall Street Reacts To Trump-Powell Feud

Wall Street Reacts To Trump-Powell Feud

2025-05-01
Trump Media Pushes Forward On Cryptocurrency And ETF Plans

Trump Media Pushes Forward On Cryptocurrency And ETF Plans

2025-05-01

Cryptocurrency

Cryptocurrency27

NFT Marketplace X2Y2 to Shut Down After Three Years as Trading Volume Plummets

2025-04-04
Cryptocurrency

Elon Musk Denies U.S. Government Plans to Use Dogecoin, Cryptocurrency Drops 3%

2025-04-01
Cryptocurrency

Gold Bull Peter Schiff Bets on Bullish Gold Amid Bitcoin’s Struggles

2025-03-30
Cryptocurrency

Fidelity Plans to Launch Spot Solana ETF

2025-03-29
Cryptocurrency

BlackRock Launches Bitcoin ETP in Europe: A Key Step for Institutional Adoption

2025-03-28
Cryptocurrency

Closing Bell Movers: GameStop Gains 7% on Earnings, Bitcoin Announcement

2025-03-27
FinancialfocusHub.com

FinancialFocusHub.com is your gateway to insightful financial guidance and strategies. Explore expert advice on investing, saving, and managing wealth. Stay informed with the latest trends and tools to empower your financial journey.

Recent Posts

  • Why The Us Dollar Is Stagnant? 2025-05-01
  • What Is Engineering Insurance? 2025-05-01
  • Packaging Corp. (Nyse: Pkg) Reports Q1 Sales Growth, Shares Drop 2025-05-01
  • U.S. Stocks Rebound As Traders Regain Risk Appetite 2025-05-01
  • 6 Effective Ways To Exchange USD 2025-05-01

TAGS

Useful Links

ABOUT US

Disclaimer

Privacy Policy

Copyright © 2024 financialfocushub.com

No Result
View All Result
  • Home
  • Forex
  • Insurance
  • News
  • Stocks

Copyright © 2024 FinancialFocusHub.com is your gateway to insightful financial guidance and strategies. Explore expert advice on investing, saving, and managing wealth. Stay informed with the latest trends and tools to empower your financial journey.