U.S. Stock Futures Dip Amid Tariff Concerns and Tech Downturn
U.S. stock futures faced a slight decline as investors analyzed President Trump's announcement of 25% tariffs on global steel and aluminum imports. S&P 500 (ES=F) futures dropped 0.2%, Dow futures (YM=F) fell 0.1%, and Nasdaq futures (NQ=F) lost 0.2%.
The tariffs, effective March 4th, apply to all countries, including top U.S. suppliers Canada and Mexico. The announcement follows concerns from the tech sector, where AI spending fears continue to dampen investor confidence. The "Magnificent Seven" tech giants, including Amazon (AMZN), Google (GOOG), and Apple (AAPL), have experienced losses due to weak earnings.
In commodities, coffee futures surged 6% to a record high of over $4.30 per pound. Panic-buying has fueled the surge, driven by low yield and high demand. Brazil and Vietnam, major international suppliers, are not expected to increase production before 2026.
Tuesday's market schedule includes earnings reports from Coca-Cola, Super Micro Computer (SMCI), Lyft (LYFT), and DoorDash (DASH).