US stocks headed for new plunge Monday
New York, United Statesustradetariffsecurities
07 April,2025
Wall Street’s battering in the wake of US President Donald Trump’s announcement of exorbitant import levies is set to continue Monday, futures indicated late Sunday.
Around 2235 GMT, futures — derivative products which allow investors to bet on market outcomes — pointed to a 3.56 percent fall in the Dow Jones index and a 3.85 percent drop in the wider S&P 500.Wall Street braced Sunday for significant losses at the start of the week over Donald Trump’s punishing tariffs on exports to the US, as oil prices plummeted even with countries seeking compromise with the defiant president.
The Republican denied Sunday he was intentionally engineering a market selloff and insisted he could not foresee market reactions, saying he would not make a deal with other countries unless trade deficits were solved.”Sometimes you have to take medicine to fix something,” he said of the market pain that has seen trillions of dollars wiped off the value of US companies since the beginning of his tariff rampage.Speaking to reporters aboard Air Force One, he added that he had engaged with world leaders on the issue to seek resolution over the weekend, claiming “they’re dying to make a deal.”Futures contracts for the New York Stock Exchange’s main boards were sharply down Sunday, suggesting more pain for battered Wall Street stocks when markets open Monday, while US oil dropped below $60 a barrel for the first time since April 2021.
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© Agence France-Presse
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, on April 4, 2025. Markets extended a global selloff on April 4 as countries around the world reeled from US President Donald Trump’s trade war, but the White House insisted the American economy will emerge victorious. Shock waves tore through markets in the United States, Europe and Asia after Trump’s tariff bombshell, as foreign leaders signaled readiness to negotiate but also threatened counter-tariffs.
(Photo by TIMOTHY A. CLARY / AFP)
