The S&P 500 futures are down 122 points, the Nasdaq 100 futures are down 441 points, and the Dow Jones Industrial Average futures are down 786 points. This significant decrease in futures indicates a continued global selloff due to tariffs. If these declines continue, the S&P 500 may enter bear market territory, reflecting a 20% drop from its recent peak. Meanwhile, Treasury yields and oil prices are also decreasing, signaling growing concerns about a potential economic slowdown.

The 2-year Treasury yield has decreased by nine basis points to 3.58%, and the 10-year yield is down one basis point to 3.98%. WTI crude oil futures are down 2.6% to $60.39 per barrel.

The Trump administration has officially implemented a 10% baseline tariff on global imports, with more specific tariffs for certain countries starting on Wednesday. President Trump stated that tariffs will not be adjusted unless trade deficits improve to at least a break-even point or a surplus.

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Tesla (TSLA, Financial) saw a significant drop of 9% in early Monday trading, leading a decline among major tech companies amid escalating trade tensions under the Trump administration. This downturn in Tesla's shares reflects broader market concerns, with other tech giants like Nvidia (NVDA, Financial), Amazon (AMZN, Financial), Meta (META, Financial), Apple (AAPL, Financial), Microsoft (MSFT, Financial), and Alphabet (GOOGL, Financial) also experiencing notable declines.

General Motors (GM, Financial) faces potential earnings challenges as tariffs threaten to cut its free cash flow by 20% and reduce its FY26 adjusted EPS by 50%. Analyst Daniel Roeska downgraded GM to Underperform, citing the impact of tariffs and softening consumer sentiment as key factors affecting the company's outlook.

MicroStrategy (MSTR, Financial) reported a $5.91 billion unrealized loss on its digital assets for Q1 2025, primarily due to a significant drop in Bitcoin (BTC-USD) prices. This loss is expected to result in a net loss for the quarter, with the company's stock falling 8.5% in premarket trading.

Bill Ackman (Trades, Portfolio) issued a warning about the potential economic fallout from President Trump's tariff strategy, describing it as an "economic nuclear winter". The reciprocal tariffs have already led to a significant selloff in U.S. stocks, with the S&P 500 entering correction territory.

Cybersecurity stocks like Palo Alto Networks (PANW, Financial) and CrowdStrike (CRWD, Financial) are being viewed as potential defensive plays for tech investors amid tariff uncertainties. Analysts suggest that these companies may outperform other tech sectors as investors seek safer options.

Mesa Air Group (MESA, Financial) announced a merger with Republic Airways to create a leading regional airline company. The all-stock transaction aims to enhance the scale and financial performance of the combined entity, with expected revenues of approximately $1.9 billion.

Bitcoin (BTC-USD) fell below the $75,000 mark, continuing its decline amid bearish sentiment in the crypto market and the impact of Trump's tariff policies. The total market capitalization of cryptocurrencies dropped significantly, with other digital assets like Ripple (XRP-USD) and Solana (SOL-USD) also seeing substantial losses.

Microsoft's (MSFT, Financial) joint venture Wicresoft is set to cease operations in China, resulting in the layoff of about 2,000 employees. This move is part of Microsoft's strategy to discontinue outsourcing after-sales services in China amidst rising geopolitical tensions.

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