FX.co ★ US Futures Lack Direction

On Thursday, U.S. futures hovered around the flatline after a lackluster session where the Nasdaq nosedived by 2% and the S&P 500 dipped by 1.1%. This fluctuation coincided with traders processing the latest developments in tariff announcements. The Trump administration declared a 25% tariff on "all cars not manufactured in the United States," effective from April 2. Additionally, President Trump issued a warning about the potential for "significantly larger" tariffs on the European Union and Canada, should they collaborate to oppose U.S. trade actions. There is increasing apprehension that such tariffs could adversely affect the U.S. economy and push inflation higher, especially as critical economic indicators suggest possible vulnerabilities. In premarket trading, General Motors' shares plummeted over 6%, while Ford's shares dropped by 1.8%. Conversely, Tesla's shares climbed nearly 1%, aided by its substantial manufacturing base in California and Texas. Performance among other major corporations varied, with technology giants like Apple (-0.2%), Nvidia (-1.8%), Amazon (-0.2%), and Meta (-0.5%) experiencing declines, whereas Microsoft and Alphabet's shares remained largely unchanged.