U.S. stock index futures edged lower Wednesday as investors awaited President Donald Trump's tariff announcement, set for today at 4 p.m. ET in the White House Rose Garden.
S&P 500 futures and Nasdaq 100 futures each fell 0.7%, while Dow futures declined 0.5%. Treasury yields remained steady, with the 10-year yield (US10Y) at 4.18% and the 2-year yield (US2Y) at 3.89%.
The upcoming tariffs, described as “country-based,” could vary in scale. Reports indicate that the U.S. Trade Representative's office is weighing a third tier of levies lower than a potential 20% universal tax, The Wall Street Journal reported.
Markets are also grappling with stagflation concerns amid weaker economic data. The March ADP Jobs Report is expected at 118,000, while February factory orders are forecast to rise 0.5% month-over-month.
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