Stock Futures Tumble as Trump Tariffs Terrorize Markets

Stock futures plunged ahead of open Thursday as President Donald Trump’s sweeping global tariffs were worse than expected, spooking markets and threatening a full-blown trade war. Trump announced a 10% baseline tariff on imports from most countries, while also unveiling harsher reciprocal levies on certain nations–including a 34% tariff on China, an additional 20% rate on goods from the European Union, and 24% on those from Japan. Canada and Mexico were exempt from fresh tariffs as they are already subject to levies.