U.S. Stock Futures Tumble Amid Trade Uncertainty

U.S. stock futures plunged as markets digested President Donald Trump's announcement of tariffs on China, Mexico, and Canada.

Downtrend in Futures

* Nasdaq futures (NQ=F): -2.26%
* S&P 500 futures (ES=F): -1.66%
* Dow futures (YM=F): -1.16%

Tariffs Take Effect

The tariffs, effective Tuesday, include:

* 25% on Canadian and Mexican goods
* 10% on Chinese goods
* 10% on Canadian energy imports

U.S. Dollar Rises

The U.S. dollar index (DX=F) surged to near its highest levels in a year on Sunday evening.

Oil Prices Jump

Crude oil prices climbed as markets anticipated retaliatory measures:

* West Texas Intermediate (CL=F) futures: Over 3% increase
* Brent crude (BZ=F) futures: 1% rise

Retaliation Announced

Canada, Mexico, and China have imposed counter-tariffs and other measures on American products.

Fed Rates and Inflation Concerns

The trade war has raised concerns about President Trump's trade agenda and its impact on inflation, contributing to the Fed's cautious approach on interest rates.

Consumer Impact

Tariffs are expected to increase prices for a range of goods, including:

* Automobiles
* Auto parts
* Gas and oil
* Clothing
* Computers
* Whiskey
* Avocados

Trump Warns of "Pain"

President Trump has threatened further tariffs, including against the European Union.

Market Outlook

Expect volatility as markets react to ongoing trade war developments and the potential impact on prices and economic growth.