US Stock Futures Point to Steep Declines as Trump Tariffs Impact Wall Street

Key Points:

* Nasdaq 100 futures (NQ=F) plunge 2.3%, leading the market decline.
* S&P 500 futures (ES=F) slide 1.9%, while Dow Jones Industrial Average futures (YM=F) stumble 1.5%.
* Tariffs on Canada, Mexico, and China set to take effect on Tuesday.
* Energy imports from Canada to face 10% duty.
* US dollar index (DX-Y.NYB, DX=F) approaches 12-month high.
* Crude oil futures (BZ=F, CL=F) gain around 2%.
* Focus on retaliatory measures from Canada and Mexico.
* Trade war raises uncertainty in President Trump's long-term trade agenda.
* Tariffs likely to impact consumer prices across various industries, including autos, energy, and consumer goods.

Asian Markets Slide:

* Asian markets react negatively to Trump's tariffs, with major indices posting significant losses.
* MSCI Asia Pacific Index falls over 2%.
* China's economic response still uncertain.

Impact on Key Sectors:

* Automakers experience share declines of at least 5%.
* Chinese e-commerce platforms face challenges as trade exemption expires.
* Chip exporters, such as Taiwan Semiconductor Manufacturing Co (TSM) and Samsung Electronics Co (005930.KS), see declines.

Oil Jumps:

* Crude oil futures rise in response to tariffs on Canadian and Mexican imports.
* Consumers face potential energy price increases.
* Tariffs may have long-term implications for global energy markets.

Expect Volatility:

* President Trump signals wider tariffs in the future.
* Market sentiment remains uncertain amid trade war fears.
* Price fluctuations likely as trade dynamics evolve.