U.S. stock index futures rose sharply Monday evening after a turbulent day on Wall Street, where markets struggled with uncertainty over potential changes to tariff policy under former President Donald Trump.
As of 8:02 p.m. ET (00:02 GMT), S&P 500 Futures were up 1.1% at 5,151.50 points. Nasdaq 100 Futures climbed 1.2% to 17,763.0, while Dow Jones Futures advanced 1.3% to 38,650.0.
Markets Whipsawed by Tariff Rumors
Stocks opened lower Monday, continuing last week’s declines, as concerns over trade tensions intensified. Markets briefly rallied in the morning after a post on social platform X claimed Trump was considering a 90-day pause on tariffs for all countries except China.
The unverified rumor triggered a swift rebound, with the S&P 500 and other major indexes recovering earlier losses. However, the White House swiftly denied the claim, causing markets to reverse course and fall once again.
Later in the day, Trump escalated tensions by threatening an additional 50% tariff on Chinese imports if Beijing does not roll back its recent 34% tariff hike on U.S. goods by April 8, 2025. The threat further shook investor confidence, fueling more volatility.
By the close, the Dow Jones Industrial Average had dropped 349 points, or 0.9%. The S&P 500 slipped 0.2%, while the Nasdaq Composite managed a slight gain of 0.1%.
Tariff Talks Possible as Tech Stocks Rebound
Despite market jitters, President Trump reaffirmed his commitment to enforcing reciprocal tariffs and dismissed the idea of a temporary pause.
However, Treasury Secretary Scott Bessent signaled a more open stance, saying the U.S. is willing to hold talks to lower trade barriers. Reuters also reported that 50 countries have already reached out to the U.S. seeking tariff negotiations.
Technology stocks stood out as one of the day’s bright spots. Nvidia (NASDAQ: NVDA) jumped 3.5%, while Broadcom Inc (NASDAQ: AVGO) rose 5.4%. Amazon (NASDAQ: AMZN) and Meta Platforms Inc. (NASDAQ: META) also bounced back from earlier losses.
Meanwhile, Apple Inc (NASDAQ: AAPL) slid 3.7%, and Tesla Inc (NASDAQ: TSLA) fell 2.6%.
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