U.S. stock index futures tumbled on Monday as investors avoided risky assets on fears that the Trump administration's sweeping tariff plans set to be unveiled this week will hurt the global economy.

Market Snapshot

At 7:50 a.m. ET, S&P 500 E-minis fell 60.75 points, or 1.08%. Nasdaq 100 E-minis dropped 290.5 points, or 1.49%, and Dow E-minis were down 275 points, or 0.66%.

Pre-Market Movers

Tesla - Tesla was down 6.2% in premarket trading. The electric-vehicle maker declined 3.5% on Friday but ended the week higher andsnapped a nine-week losing streak. Coming into Monday, Tesla has declined 35% this year. The company is expected to releasefirst-quarter deliverieson Wednesday. Analysts at Stifel reduced their price target on Tesla to $455 from $474 and trimmed their near-term delivery forecasts.

General Motors, Ford, Stellantis - General Motors fell 2.6%, Ford Motor was down 1.7%, and Jeep maker Stellantis declined 3.7% after President Trump told NBC News he didn’t care if foreign automakers raised their prices for U.S. consumers because of plans to slap a 25% tariff on imported automobiles. “I couldn’t care less, because if the prices on foreign cars go up, they’re going to buy American cars,” Trump said. “I hope they raise their prices, because if they do, people are going to buy American-made cars. We have plenty.”

CoreWeave - CoreWeave fell 4.3% in premarket trading. The artificial-intelligence start-up began trading Friday. It opened at $39 a share, below its initial offering price of $40, andended the session at $40. CoreWeave is a pure play on AI, with all of its revenue coming from cloud rentals of AI servers that use Nvidia chips.

Nvidia, Palantir - Nvidia, meanwhile, dropped 4.4% in the premarket sessionfollowing the disappointing CoreWeave IPO. Coming into Monday, the AI chip maker has declined 18% this year. Palantir Technologies fell 7.1% in premarket trading. Shares of the data-analytics company have risen almost 14% this year.

Moderna - Moderna shares tumbled 14% in premarket trading on Monday After report top vaccine official Peter Marks forced out at FDA.

Hut 8 Mining Corp - Hut 8 Mining and Eric Trump, the son of US President Trump, announced the establishment of American Bitcoin, aiming to set a new standard for Bitcoin mining. Hut 8 shares jumped 2.5% in premarket trading.

Mr. Cooper - Rocket Companies, the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, today announced a definitive agreement to acquire Mr. Cooper Group Inc. in an all-stock transaction for $9.4 billion in equity value, based on an 11.0x exchange ratio. Mr. Cooper shares jumped 26.3% in premarket trading.

LPL Financial - LPL Financial said it would acquire Commonwealth Financial Network, a privately owned wealth management company with about 2,900 financial advisors, for roughly $2.7 billion in cash. Shares of LPL Financial, the wealth management company, fell 2.9% in premarket trading.

Market News

Trump’s Reciprocal Tariffs Set to Start With All Countries

President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2.

“You’d start with all countries, so let’s see what happens,” Trump told reporters aboard Air Force One. “I haven’t heard a rumor about 15 countries, 10 or 15.”

Trump is set to launch so-called reciprocal tariffs on April 2, a centerpiece of his plan to rebalance global trade and boost US manufacturing while collecting tariff payments to fund his domestic policy priorities, including an extension of tax cuts from his first administration and additional tax promises made during the 2024 campaign.

Gold Surges Past $3,100 as US Tariffs, Uncertainty Propel Safe-Haven Flows

Gold prices on Monday soared above $3,100 per ounce for the first time as concerns around U.S. President Donald Trump's tariffs and the potential economic fallout, combined with geopolitical worries, drove a fresh wave of investments into the safe-haven asset.

Spot gold prices hit a record high of $3,120 per ounce.

Earlier this month, it breached the psychological $3,000 per ounce mark for the first time - a significant milestone that experts say reflects growing concerns over economic instability, geopolitical tensions and inflation.