Dow, S&P 500, Nasdaq futures dip on Trump tariff uncertainty

US stock futures declined on Monday after the Supreme Court rejected the legality of President Donald Trump’s most sweeping tariffs, leaving investors uncertain about the next steps in US trade policy.

Futures tied to the Dow Jones Industrial Average fell 0.5%. Contracts linked to the S&P 500 dropped about 0.6%, while Nasdaq 100 futures slid 0.7%, News.Az reports, citing foreign media.

The pullback followed a volatile Friday session in which the court’s decision to invalidate a broad portion of Trump’s trade measures initially raised hopes that trade tensions might ease. Despite the uncertainty, stocks finished both the day and the week with notable gains.

On Saturday, Trump responded to the ruling by stating he would increase the baseline tariff rate on imports from 10% to 15%, effective immediately. However, it remained unclear whether formal steps had been taken to implement the higher duties.

Geopolitical concerns also weighed on sentiment. Iran remains in focus after Trump urged Tehran to reach an agreement with Washington over its nuclear program, warning of consequences if talks scheduled to resume this week fail.

Oil prices fell roughly 1% on Monday after closing the previous week more than 5% higher, reflecting shifting expectations around both trade developments and Middle East tensions.

Corporate earnings are also drawing attention as the reporting season nears its end. Nvidia is set to report results on Wednesday, a key event for the technology sector. Salesforce will also release earnings the same day, offering additional insight into the broader tech landscape, while Home Depot reports on Tuesday, providing a gauge of retail performance.

News.Az 

By Nijat Babayev