U.S. stock index futures fell slightly Thursday, handing back some of the prior session’s strong gains as investors digested President Donald Trump’s latest tariff announcements.
At 05:50 ET (09:50 GMT), Dow Jones Futures fell 105 points, or 0.2%, S&P 500 Futures dropped 12 points, or 0.2%, and Nasdaq 100 Futures slipped 33 points, or 0.1%.
The main averages on Wall Street rose in the prior session, with the tech-heavy Nasdaq Composite recording an all-time closing high after artificial intelligence-darling Nvidia (NASDAQ:NVDA) became the first company to notch a market value of $4 trillion, albeit briefly.
Trump tariff jitters persist amid Brazil tiff
Trump on Wednesday released more letters outlining tariffs against imports from a number of countries, with Brazil among the worst hit.
The U.S. president said he planned to slap a 50% tariff on all imports from the South America giant. The levies, which would come into effect from Aug. 1, were partially a response to Trump’s anger at the perceived mistreatment of former Brazilian President Jair Bolsonaro, his political ally in the region.
Brazilian President Luiz Inacio Lula da Silva decried the tariff and vowed a proportionate response, sparking some concerns over a trade war between Washington and Brasilia.
Separately, Trump also announced a 50% tariff on copper, also effective Aug. 1, making good on his threat from earlier in the week.
Jobless claims, Fed speakers due
On the economic data slate, investors will keep an eye on the weekly jobless claims data as another gauge of the strength of the U.S. labor market, while Federal Reserve’s Christopher Waller and Mary Daly are set to speak during the session.
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