US Futures Drop Ahead of Trade War Following Trump Tariffs on Canada, Mexico, China

U.S. stock futures dropped sharply as President Trump's newly imposed tariffs on Canada, Mexico, and China raised fears of a potential trade war. The Dow Jones futures fell by 1.35%, while S&P 500 and Nasdaq-100 futures also indicated significant losses ahead of the market open. In retaliation, Canada announced its own tariffs on American products, and Mexico is considering similar measures, while China plans to challenge the tariffs at the World Trade Organization. Market analysts expressed concern that these hastily imposed tariffs could lead to a slowdown in global economic growth. Trump's next targets reportedly include the UK and the European Union, further fueling market anxiety. Overall, the sentiment remains cautious as traders await more economic data that could influence the unfolding situation.