US Stock Market LIVE: Global markets slid further and Wall Street was on track for another day of crushing losses Friday (April 4) after China responded to US President Donald Trump’s latest set of tariffs with some of their own. Futures for the S&P 500 fell 3.6% before the bell, while futures for the Dow Jones Industrial Average shed 3.4%, falling below the 40,000 mark. Nasdaq futures tumbled 4%.
That follows Thursday’s losses for the three major US indices, which ranged between 4% and 6%. Thursday’s wipeout was Wall Street’s worst day in five years. Tesla Inc. and Intel Corp. shed about 5% in pre-market trading.
Markets in Europe were having an even rougher time Friday. By midday, Germany’s DAX had lost 5%, the CAC 40 in Paris slipped 4.2% and Britain’s FTSE 100 gave up 3.8%. Oil prices fell as much as 8%.
China announced early Friday that it will impose a 34% tariff on imports of all US products beginning April 10, part of a flurry of retaliatory measures following Trump’s “Liberation Day” slate of double-digit tariffs.
The two important triggers for today’s session include the Non-Farm Payrolls data for March and Fed Chair Jerome Powell’s speech, his first after the reciprocal tariff announcement.