U.S. stock futures edged lower Sunday night as investors weighed President Donald Trump’s latest tariff announcement and its potential impact on global trade.
Futures tied to the Dow Jones Industrial Average slipped 97 points, or 0.2%. S&P 500 futures declined 0.23%, while Nasdaq 100 futures dropped 0.34%.
Energy markets also moved lower. Brent crude futures fell 0.65% to $71.29 per barrel, and U.S. crude futures declined 0.81% to $65.94 per barrel.
The moves followed Trump’s statement Saturday that he would raise global tariffs to 15%, up from the 10% level announced Friday. The announcement came after the Supreme Court struck down the administration’s “reciprocal” tariffs. Trump said the higher duties would take effect immediately, though it remains unclear whether formal documentation has been finalized.
In a statement, Trump said he would raise the worldwide tariff to the “fully allowed, and legally tested” 15% level, adding that additional levies could be introduced in the coming months.
Markets are coming off a volatile session. On Friday, stocks initially rallied after the Supreme Court decision, which invalidated a significant portion of Trump’s trade measures. However, gains faded before equities recovered later in the session.
The Dow closed up more than 230 points, or 0.5%, after having fallen roughly 200 points earlier in the day. The S&P 500 gained 0.7%, and the Nasdaq Composite rose 0.9%.
Investors had hoped the court’s ruling might ease trade tensions and potentially pave the way for refunds to companies affected by the tariffs. However, uncertainty around the administration’s next steps has kept markets cautious.
“It would seem that Wall Street — and Main Street — are going to be dealing with the issue of trade and tariffs for some time to come,” Tim Holland, chief investment officer at Orion Wealth Management, wrote in a note Friday.
Geopolitical concerns are also on investors’ radar. Trump this past week urged Iran to reach an agreement over its nuclear program, warning of consequences if negotiations fail.
The president is scheduled to deliver his State of the Union address to Congress on Tuesday.
Corporate earnings will also be in focus. Nvidia is set to report results Wednesday, making it a key event for markets. The chipmaker, one of only two “Magnificent Seven” stocks to post gains this year, will be closely watched for updates on its artificial intelligence strategy.
On the economic calendar, investors will receive durable goods orders and factory orders data Monday morning.
