April 8 - U.S. equity futures surged Tuesday following a rollercoaster session on Monday, amid growing uncertainty over President Trump's evolving tariff plans.
Dow Jones Futures advanced 735 points (about 1.9%), while S&P 500 Futures climbed 75 points (roughly 1.5%) and Nasdaq 100 Futures jumped 205 points (around 1.2%). Monday's trading saw wild intraday moves that began with steep losses, only to be partially recovered after a report, later debunked, that suggested a potential pause in tariffs. Despite the volatility, the Dow and S&P 500 closed modestly lower, and the Nasdaq edged up slightly.
Heightened fears drove the VIX to levels not seen since the March 2020 sell-off, with trading volumes reaching an 18-year peak at roughly 29 billion shares. Over the past three sessions, the S&P 500 has lost more than 10%.
Trump reiterated his commitment to reciprocal tariffs, warning of an added 50% duty on Chinese goods if Washington's trade leverage is not met by China's withdrawal of a 34% tariff by April 8, 2025. Meanwhile, Treasury Secretary Scott Bessent noted that nearly 70 countries, including Japan, have opened tariff negotiations. In related news, The Washington Post reported Tesla (TSLA, Financial) CEO Elon Musk made private appeals to Trump for a tariff reversal, with investors now closely awaiting U.S. Trade Representative testimony before the Senate Finance Committee.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.