US stock futures inched lower as investors digested President Donald Trump’s announcement of 25% tariffs on global steel and aluminum imports.
Futures attached to the S&P 500 (ES=F) slipped 0.2%, while Dow futures (YM=F) fell 0.1%, and Nasdaq futures (NQ=F) declined 0.2%.
Trump imposed 25% tariffs on all steel and aluminum imports on Monday night. The tariffs are due to take effect on March 4th and apply to all countries, including Canada and Mexico, the two top suppliers of the metals in the US. The US neighbors are also scrambling to strike a deal to avoid being subject to another set of tariffs on March 1.
In tech, AI spending fears continue to drag down investor confidence in the Magnificent Seven. Amazon (AMZN), Google (GOOG), Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), and Tesla (TSLA) have all seen losses from weak earnings in recent weeks. Meta (META) remains the…
