On a volatile day for Wall Street, stock futures saw gains shortly after the S&P 500 extended its previous session losses, largely impacted by President Donald Trump’s new tariff announcement. Early Tuesday, futures associated with the S&P 500 climbed 1.05%, Nasdaq-100 futures rose approximately 0.83%, and Dow futures surged 593 points, marking a 1.55% increase. The market movements follow a chaotic Monday characterized by the highest trading volume in over 18 years, with approximately 29 billion shares exchanged.
The Dow Jones Industrial Average closed down 349 points, or 0.9%. This was a recovery from its earlier plunge of over 1,700 points, resulting in a session swing of 2,595 points. Meanwhile, the S&P 500 ended the day 0.2% lower, having been down 4.7% at one stage. Although the index remained over 17% below its 52-week high, it momentarily entered bear market territory. The Nasdaq Composite managed a slight gain of 0.1%, propelled by investor interest in large technology firms such as Nvidia and Palantir, despite initially dropping more than 5%.
Monday’s trading was stirred by speculative social media posts suggesting a temporary pause in tariffs. This excitement faded after the White House confirmed to CNBC that rumors of a 90-day delay were unfounded. Treasury Secretary Scott Bessent, in a Fox News interview, implied that discussions on tariffs could continue until June, noting that nearly 70 countries, including Japan, have approached the U.S. to negotiate.
Amid these developments, the benchmark 10-year Treasury yield exceeded the 4% threshold. Despite Trump’s tariffs intensifying recession concerns, Louis Navellier, founder and CIO of Navellier & Associates, noted the possibility of overblown fears. He suggested that rising yields might indicate the Federal Reserve’s reluctance to implement emergency rate cuts, positing that Trump’s tariff strategy may not prove as damaging as critics suggest.
While financial markets remain unsettled, the S&P 500 has shed over 10% across the last three trading days, and the CBOE Volatility Index—or Wall Street’s “fear gauge”—spiked to about 60. Investors continue to monitor key economic indicators. On Tuesday, the National Federation of Independent Business is set to release its March small business index, with the consumer price index report expected later in the week.
This turbulent backdrop reflects the complexities of the current economic climate, driven by geopolitical tensions and domestic policy adjustments. As markets navigate these uncertainties, stakeholders are keenly attuned to any further developments or policy shifts that may affect financial stability.
Original Source: https://www.cnbc.com/2025/04/07/stock-market-today-live-updates.html
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Publish Date: 2025-04-08 11:10:00
