Stock futures are pointing to a sharp drop for major U.S. indexes on Monday, as investors await new tariffs from the Trump administration. Futures tied to the S&P 500 and Nasdaq were down by 1% and 1.4%, respectively, before the opening bell. Futures for the Dow Jones Industrial Average dropped 0.6%. This follows a sharp sell-off on Friday after a higher-than-expected inflation report and weak consumer sentiment data raised concerns about the economy.
As March comes to a close, major stock indexes are on track to end the month with significant losses. The Dow has dropped 5.1%, the S&P 500 is down 6.3%, and the Nasdaq has fallen 8.1%. A brief recovery from a month-long selloff was overshadowed by renewed concerns over tariffs.
President Trump is expected to announce new tariffs on countries that impose levies on U.S. exports. These tariffs, set to go into effect on April 2, have been called “Liberation Day” by the president. Investors are worried that escalating trade tensions could further weaken global economic growth.
The yield on the 10-year Treasury note, which impacts borrowing costs, was at 4.20% on Monday, lower than Friday’s close of 4.26%. The yield drop signals rising concerns about economic growth, which could increase borrowing costs for businesses and consumers.
Tech stocks are under pressure ahead of the market open. Tesla (TSLA) fell 6%, while chipmakers Nvidia (NVDA) and Broadcom (AVGO) dropped 3.5% and 2.5%, respectively. Other tech stocks, including Amazon (AMZN), Meta (META), Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOG), also lost ground.
Bitcoin-related stocks also declined as Bitcoin dropped to around $82,800, down from $84,000. Meanwhile, gold futures surged 1.4%, reaching a new high of $3,155 an ounce.
Markets will closely watch tariff developments and economic data this week.
