US Stock Futures Plummet Amid Trump's Tariffs

Key Highlights:

* Nasdaq 100 futures plunged 2.3%, S&P 500 futures declined 1.9%, and Dow futures stumbled 1.5%.
* Tariffs of 25% on Canada and Mexico, 10% on China, to take effect Tuesday.
* Retaliatory measures announced by Canada and Mexico include counter-tariffs.
* Uncertainties over Trump's trade agenda weigh on Fed's rate decision.
* Industries impacted by tariffs include automobiles, energy, clothing, electronics, and agricultural products.

Global Market Reactions:

* European stocks drop as automakers face tariff threats.
* Asian markets slide heavily following Trump's announcement.
* Mainland China markets closed for Lunar New Year, but downturn anticipated as China faces 10% tariffs.

Sector Impacts:

* Automaker stocks plunged 5% or more for Toyota, Honda, and Nissan.
* Chinese e-commerce platforms face impacts from exemption expiration.
* Asian chip exporters decline as Trump targets electronics components.

Oil Market:

* Oil futures surge in response to tariffs, leading to expected energy price increases.
* West Texas Intermediate and Brent crude prices jump over 1% and 3%, respectively.

Upcoming Developments:

* Trump signals wider tariffs in the future, potentially encompassing the European Union and various industries.
* Markets anticipate price volatility and "pain," as warned by the President.