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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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13rd of March, covering the latest developments you need to know.
Ayman Ghazali, a 41-year-old U.S. citizen born in Lebanon, crashed his truck into the hallway of a Detroit-area synagogue on Thursday (12 March) while children attended preschool. Security personnel shot him dead during the confrontation, and authorities said no one else was seriously injured.
Iran should continue “blocking the Strait of Hormuz,” while the U.S. should “shut” its Middle East military bases, new Iranian Supreme Leader, Mojtaba Khamenei, said on Thursday in his first speech since being elected. He is still yet to appear in public, and a broadcaster read out his words.
Iran’s President Masoud Pezeshkian has set recognition of Tehran’s inalienable rights, payment of war compensation, and international guarantees against any future invasion as conditions for ending the U.S.–Israel war with the Islamic Republic.
The U.S. should shut down its military bases in the Middle East, Iran's new Supreme Leader Mojtaba Khamenei said on Thursday (12 March). His words were read out by a broadcaster on state Iranian television.
A towering lava fountain from Kilauea shot about 400 metres into the air late on Tuesday (11 March) on Hawaii Island, prompting temporary closures at Hawaii Volcanoes National Park and part of a key highway as volcanic ash and debris fell over nearby areas.
More than 68,000 children in eastern Afghanistan have been displaced after clashes between Afghan and Pakistani forces intensified along the border, according to a new report by Save the Children.
Georgia has cancelled international tenders for the construction of major road sections that form part of a regional highway linking the country with the borders of Armenia and Azerbaijan.
Norwegian police apprehended three brothers suspected of carrying out Sunday's (8 March) bombing at the U.S. embassy in Oslo, in an attack investigators have branded an act of terrorism.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
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