Stock market futures slip ahead of Trump’s ‘Liberation Day’ tariffs
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(NEW YORK) — Stock markets struggled into Wednesday morning as it became clear that President Donald Trump intended to announce a slew of tariffs on America’s trading partners, with the White House preparing to mark what it is calling “Liberation Day.”
The S&P 500 and NASDAQ both posted their first quarterly losses since 2022 this week as investors prepared for the new measures and economists warned of the possibility of a recession — with major potential knock-on effects for other economies around the globe.
The Dow Jones, S&P 500 and NASDAQ futures were all slipping on Wednesday morning, with Dow Jones futures down by about 100 points.
Trump is set to make his tariff announcement in the White House Rose Garden on Wednesday after the stock market closes.
Abroad, the British FTSE 100 index dropped by more than 0.6% on Wednesday morning, with Germany’s DAX index down by 1.2%. The French CAC 40 index was down more than 0.5%.
Japan’s Nikkei index rose nearly 0.3%, but South Korea’s KOSPI index dropped by more than 0.6%.
On Tuesday, the Dow Jones ended at 41,989.96 down 0.03%. The S&P 500 ended at 5,633.07 up 0.38% and the NASDAQ ended at 17,449.89 up 0.87%.
Automakers and pharmaceutical companies have reportedly been lobbying the Trump administration for carve outs and a phase-in approach for the promised tariffs.
World leaders have threatened a response while pressing the White House for clarity.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City.
(NEW YORK) — Stocks futures were again showing jitters early Thursday, after a reprieve for the S&P and NASDAQ on Wednesday amid President Donald Trump’s trade war.
A back-and-forth over international tariffs is hanging over the U.S. economy, along with a looming government shutdown with a deadline on Friday.
Dow futures evened out ahead of Thursday’s open, after earlier trading down about 0.3%.
Federal officials said Wednesday that consumer prices climbed 2.8% in February over the same year-earlier month, meaning inflation cooled more than economists expected.
After initially modest gains, the Dow Jones Industrial Average closed on Wednesday down about 0.2%, while the S&P 500 climbed 0.5%. The tech-heavy Nasdaq ticked increased 1.2%.
Markets may look on Thursday to a smaller inflation report called the Produce Price Index, which is expected at 8:30 a.m. ET, along with weekly jobless claims, for an indication of the health of the larger economy.
Still, its news out of Washington that is likely to have the biggest impact on the direction of stocks.
This is a developing story. Please check back for updates.
(NEW YORK) — U.S. stocks were little changed in early trading on Tuesday, a day after President Donald Trump signaled a willingness to ease some tariffs but also impose new ones.
The Dow Jones Industrial Average ticked up 52 points, or 0.1%. The S&P 500 climbed 0.2%, while the tech-heavy Nasdaq increased 0.05%.
Trump’s administration said on Friday that many consumer electronics would be exempt from his wide-ranging reciprocal tariffs, an announcement that sent global markets higher on Monday.
Trump on Monday also signaled a willingness to further ease tariffs, saying he is looking to “help some of the car companies” in the aftermath of 25% auto levies.
The White House also took steps on Monday that may result in new tariffs on pharmaceuticals and semiconductors, posting notices online about national security investigations into those products.
Markets in Europe also traded higher midday on Tuesday, after European Commission President Ursula von der Leyen’s 90-day pause on planned tariff countermeasures went into effect.
Germany’s DAX climbed about 1.21% midday and Britain’s FTSE 100 traded up about 0.90% midday.
South Korea’s KOSPI index closed up 0.88% on Tuesday, posting its second day of gains. And Tokyo’s Nikkei 225 climbed 0.84%.
Markets in China, where Trump’s reciprocal tariffs are still in place, showed less enthusiasm. Shanghai’s Composite Index rose just 0.15% and Hong Kong’s Hang Seng Index climbed 0.23%.
ABC News’ David Brennan contributed to this report.
(RALEIGH, N.C.) — In the Research Triangle area in and around Raleigh, North Carolina, home sales and construction development are booming as thousands flock to the area in search of affordable homes close to work.
However, the severe tariffs President Donald Trump put on virtually all U.S. trading partners have created uncertainty within the U.S. housing market.
Leonard Windham, a Raleigh area realtor, gave ABC News a tour of a new housing development in Youngsville — an up-and-coming town just 20 miles north of Raleigh.
“In the real estate industry, we’re just not sure what’s going to happen,” Windam said. “If there’s a possibility, of course, as the price of construction material goes up, it could affect the home price.”
Realtors and homebuilders told ABC News they are moving forward with their spring housing market goals despite not knowing how the new tariffs could impact costs.
Tariffs may change home construction as we know it, as rising costs could potentially encourage construction companies and developers to invest in American manufacturing.
Alex Yost, vice president of the North Carolina Home Builders Association, told ABC News he is rethinking where to source materials when building new homes.
“We’re going to be looking at pricing. We’re going to be making sure that our clients get the value that they want and need,” he said. “And so, to the extent that Chinese light fixtures end up costing more, then that’s certainly going to factor into the decisions that we make, absolutely.”
Yost noted that his primary concern is if and how tariffs will affect their building material supply chain, but he’s also worried about consumer confidence.
“Last week’s news about the market is probably going to cause some buyer confidence gaps, and so we are concerned,” he said. “Mostly, what we’re concerned about is that buyers feel good about making the acquisition of a new home, and we build luxury homes, but the entire marketplace is built on people buying the most expensive thing they ever bought. They’ve got to feel good going into it.”
Homebuilders breathed a collective sigh of relief after Trump exempted major construction materials like Canadian lumber and Mexican gypsum from retaliatory tariffs. However, costs will rise for imported steel, aluminum, copper, home appliances and other building materials sourced abroad.
Builder confidence in newly built single-family homes is at the lowest level it’s been in seven months, according to the National Association of Home Builders (NAHB).
Home costs are expected to rise another $9,200, the group said. It estimated that about 7% of products used in new construction projects come from other countries — that amount can fluctuate depending on which products a home buyer wants and how much they are willing to spend.
Some prospective homebuyers told ABC News they are not worried about tariffs impacting their ability to buy a home, simply because they haven’t seen home prices shoot up as a result.
“Personally, no because I don’t have a whole lot of experience of what that is going to mean for me as a homeowner,” Deishali DeWitt, a 33-year-old first-time home buyer, said.
DeWitt, who has been looking for a year, told ABC News that prices were “ridiculous” before the tariffs.
“The past or two years ago, I remember looking…houses were about half the price that they are right now,” she said. “So that’s been part of why it’s taken me some time. Like, do I really want to pay for a house that’s $600k right now? That was worth $250k just two years ago?”
Windham — the Raleigh area realtor — said first-time home buyers care most about one thing: cost per month. That cost has been pushing homebuyers farther out from major cities, to more affordable areas with new development.
“They’re looking at monthly payment, and they have a set number in mind,” Windham said.
If buyers pull back amid economic uncertainty and there’s less demand for homes, residential construction could also slow down and potentially exacerbate the country’s housing shortage.
“When we start to see tariffs come into play, what then happens to an interrupted supply chain or is there an interrupted chain that causes it to take a couple weeks longer to get cabinets?” Yost said. “That can extend my build time. Then the client may not be in their home for a couple extra months. All those things have real human impact.”
