US Stock Futures Dip on Trump's Tariff Announcement

US stock futures edged lower as investors reacted to President Donald Trump's announcement of 25% tariffs on global steel and aluminum imports.

* S&P 500 (ES=F) futures lost 0.2%.
* Dow futures (YM=F) fell 0.1%.
* Nasdaq futures (NQ=F) declined 0.2%.

Trump Imposes Tariffs on Steel and Aluminum

Trump imposed the tariffs on all steel and aluminum imports on Monday night. The tariffs will take effect on March 4th and apply to all countries, including Canada and Mexico, the two largest suppliers of these metals to the US.

Investor Concerns Drag Down Tech Stocks

In the tech sector, concerns about AI spending weighed on investor confidence in the "Magnificent Seven." Amazon (AMZN), Google (GOOG), Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), and Tesla (TSLA) have all experienced losses due to weak earnings in recent weeks.

Meta (META) has been the exception, posting double-digit gains so far this year. Meta also drew attention on Monday as it began laying off workers as part of CEO Mark Zuckerberg's plan to cut thousands of jobs to prioritize AI talent acquisition. Approximately 5% of the company's workforce (3,600 individuals) are expected to be affected.

Coffee Futures Surge to Record High

In commodities, coffee futures jumped 6% to an all-time high of over $4.30 per pound. Panic-buying has driven up prices, which have risen 35% this year due to low yield and high demand. Brazil and Vietnam, the world's largest coffee suppliers, are expected to face production challenges until 2026.

Coca-Cola Earnings Report Expected

Coca-Cola is scheduled to report its quarterly earnings on Tuesday. Wall Street analysts anticipate revenue of $10.67 billion and earnings per share of $0.52. Super Micro Computer (SMCI), Lyft (LYFT), and DoorDash (DASH) will also release their earnings reports on Tuesday.

Gold Benefits from Market Uncertainty

Gold (GC=F) continued to gain from the volatility in stock markets. Trump's tariff announcement pushed the safe-haven asset to another all-time high in the past two weeks. Bullion reached a peak of $2,921 per ounce, maintaining the momentum from a 1.7% increase in the previous trading session.