Wall Street slides after surprise tariff comeback

Wall Street futures slipped as a surprise court ruling brought back most of Trump-era tariffs, shaking investor confidence heading into month-end.

U.S. stock futures declined on Friday after a federal appeals court reinstated the majority of tariffs imposed during Donald Trump’s presidency. This move reversed a prior decision that had blocked many of the levies, reigniting trade uncertainties. Despite the setback, the S&P 500 and Nasdaq are still on track for their best month since November 2023, buoyed by solid earnings and tame inflation data.

However, market volatility remains high as investors weigh the impact of renewed tariffs and upcoming inflation figures. Meanwhile, megacap tech stocks slipped slightly in premarket trading, with Nvidia and Tesla showing modest declines. All eyes are now on the Fed’s favored inflation measure, the Personal Consumption Expenditures (PCE) index, due later in the day, which may influence the central bank’s rate path.

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