US stock futures dropped amid growing concerns over the impact of the Trump administration’s tariffs. Major stocks like Nvidia, Meta, Amazon, and Tesla saw losses. China’s retaliatory tariffs and rising recession fears added to market uncertainty. Bitcoin also fell 4%.
US stock futures decline amid tariff concerns; Tesla shares fall
US stock index futures dropped on Monday as investor concerns grew over the economic impact of the Trump administration’s tariff policies. At 05:43 a.m. ET, Dow E-minis fell by 299 points (0.7%), S&P 500 E-minis declined 48.75 points (0.84%), and Nasdaq 100 E-minis were down 198.5 points (0.98%).
Major growth stocks also suffered losses, with Nvidia dropping 2%, while Meta and Amazon declined by over 1.3% each. Tesla shares fell 2.6% after UBS lowered its forecast for the company’s first-quarter deliveries and reduced its stock price target.
Markets are also reacting to China’s new retaliatory tariffs, set to take effect on Monday, and upcoming US tariffs on base metals. Uncertainty over trade policies has increased recession fears, with a Reuters poll showing that 91% of economists see rising risks of an economic downturn.
The S&P 500 saw its biggest weekly drop since September, while the Nasdaq has fallen over 10% from its December peak. Investors are awaiting key economic data this week, which could influence the Federal Reserve’s policy decisions. Meanwhile, crypto stocks slid as Bitcoin lost 4% in value.
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The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 30 May, covering the latest developments you need to know.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
The World Health Organization (WHO) says ongoing conflict, funding pressures and international travel restrictions are complicating efforts to contain a fast-growing Ebola outbreak in the Democratic Republic of Congo (DRC).
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Russia and Kazakhstan signed 15 agreements during President Vladimir Putin’s state visit to Astana on Thursday (28 May), including deals on Kazakhstan’s first nuclear power plant and expanded oil cooperation with Russia.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
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