US stock futures plummeted on Tuesday, marking the start of the second quarter with uncertainty over President Donald Trump’s tariff policy rollout. The Dow Jones Industrial Average’s futures fell 232 points, or 0.5%, while S&P 500 and Nasdaq-100 futures slid 0.4% and 0.2%, respectively.
The White House is expected to unveil reciprocal tariffs on goods from virtually all countries, sending shockwaves through investors. The Trump administration is reportedly considering a 20% tariff on most imports into the US, which has sparked concerns over the impact on global trade and economic growth.
The uncertainty has led to market volatility, with stocks experiencing a rollercoaster ride in recent weeks. The S&P 500 touched its six-month low last week before recovering, while the Nasdaq Composite dropped 10% during the first quarter, marking the worst quarterly performance since 2022.
However, some analysts remain optimistic about the future, citing a possible rebound in earnings and stock performance. Scott Wren, senior global market strategist at Wells Fargo Investment Institute, expects “broadening out” in both earnings and stock performance this year.
Investors will also be watching for the ISM manufacturing index for March alongside February’s job openings and construction spending reports on Tuesday. Meanwhile, Jefferies downgraded major airlines Delta Air Lines and American Airlines to hold, citing macro uncertainty and weak consumer sentiment.
In other markets, Asia-Pacific markets recovered from a sell-off in the previous session as investors await clarity on Trump tariffs. China’s Caixin PMI for March came in at 51.2, slightly higher than the expected reading of 50.8. India’s benchmark Nifty 50 fell 1.54%, while Hong Kong’s Hang Seng Index increased 0.38%.
The CBOE Volatility Index (VIX) rose for a fourth day on Monday, reflecting traders’ expectations of large swings in prices. The VIX Index measures traders’ expectations for how much the S&P 500 might move in either direction over the next 30 days.
Source: https://www.cnbc.com/2025/03/31/stock-market-today-live-updates.html