US stock futures are declining ahead of the tariffs that took effect yesterday, affecting Canada, Mexico, and China. The Nasdaq is down 0.7%, while S&P 500 and Dow Jones Industrial Average futures also fell due to yesterday’s losses. Bitcoin is down 3% to trade below $84,000.
Canada and China have retaliated with tariffs on US goods, including a 25% tariff on $27 billion worth of Canadian products. China has imposed tariffs on US farm imports. President Donald Trump will address the market tonight.
Retailer Target reported better-than-expected Q4 results but warned that tariffs could pressure its first-quarter profit. Shares are down 1.5%. Walgreens Boots Alliance is rising after a report it’s near a $10 billion deal to be taken private, with shares up 5% in premarket trading. Nvidia’s shares fell further after a 9% drop on Monday, amid concerns over tariffs’ impact on AI-related stocks.
Source: https://www.investopedia.com/5-things-to-know-before-the-stock-market-opens-march-4-2025-11690179