- US actions are ready to continue their furious free fall Because the future has signaled more fear before President Donald Trump’s tariffs. Administration officials and Trump himself signaled on Sunday that they would not diminish from their aggressive stance. Meanwhile, the inflation report is expected later this week, as well as bank earnings.
Wall Street remained in fears over President Donald Trump’s tariffs on Sunday night as futures indicated closer losses.
Dow The industrial average future of Onesons fell 1,302 points, or 3.3%, while the future of S&P 500 sank 3.9% and Nasdak The future dived 4.9%. This follows the disastrous week that has noticed the worst sale since the early days of the Kovid-19 pandemic.
The 10-year-old finance ministry fell by 8.5 basic points to 3,906%, and US crude oil prices fell 3.7% to $ 59.72 a barrel.
On Wednesday, Trump announced a minimum tariff rate of 10%and higher rates for 57 economies such as China (34%), the European Union (20%) and Japan (24%). Fitch’s rating Estimate that the effective tariff rate can reach 25% on average – the highest by more than 115 years.
Former Secretary of the Finance Ministry, Larry Summers, aired caution in X Post On Sunday, saying there is a very good chance of more market turbulence similar to what was seen on Thursday and Friday.
These sessions represented the fourth largest two -day decline in the last 85 years, the summer said. Sales deleted about $ 6 trillion in the market cap.
“The fall of this size signals that there will probably be problems and people need to be very cautious,” Summers wrote.
Meanwhile, the Trump administration and the president himself defended their tariffs.
“I don’t want anything to go down, but sometimes you have to take a cure to fix something,” Trump told reporters when asked about the route on the market.
He pointed to the US trade deficit with China and said he was ready to conclude a deal, “but they need to solve their surplus.”
Earlier, said National Economic Council Director Kevin Hasset, said ABC News That more than 50 countries brought to the White House to negotiate tariffs.
But for the time being, Trade Secretary Howard Lunno said the tariffs would remain and would not be delayed. While the minimum tariff of 10% came into force early Saturday, Individualized taxes will leave on Wednesday.
“They will definitely remain in force for days and weeks,” he said CBS.
In response to Trump’s landslide tariffs, Jpmorgan Now he sees a recession, with GDP reduced by 0.3% this year. But Finance Secretary Scott Biesent said there was no recession on Sunday and called it a short -term sales fund.
“One thing I can tell you, as a secretary of finance, what I have impressed is the market infrastructure, that we had a record volume on Friday. NBC.
Furious also gaveThere are no indications that Trump will withdrawFrom these aggressive tariffs.
On Friday, Federal Reserve President Jererom Powell warned that capture tariffs could increase inflation higher, expecting an expectation of immediate reduction in interest rates.
Markets will receive inflation update on Thursday, when the consumer price index report comes out for March, inspecting where inflation was before the latest tariffs were hit.
In addition, the earnings season for the results of the first quarter will begin this week as JPMorgan, Wells FargoAnd Blackrock Friday’s report.
Commenting from top tariff executives and their predictions of how they will affect their companies will be under special control.
This story was originally shown on Fortune.com
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