Trump's 104% Tariff On Chinese Imports Sends Stock Futures Plunging — Dow Falls Over 500 Points

Stock futures tumbled on Tuesday evening as markets braced for President Donald Trump ‘s 104% tariff on Chinese imports taking effect at 12:01 a.m. ET Wednesday , erasing a brief relief rally and sending major indexes to significant lows.

What Happened : S&P 500 futures fell 88.25 points or 1.76% to 4,932, while Dow Jones Industrial Average futures dropped 581 points or 1.



53% to 37,281, and Nasdaq-100 futures saw the steepest decline, plunging 394 points or 2.29% to 16,849. The sell-off followed Tuesday’s volatile session, where the S&P 500 tracked by SPDR S&P 500 SPY erased a 3.

7% intraday gain to close down 1.57% at 4,892, hitting a one-year low. The Nasdaq 100 dropped 1.

95% to 17,104 after climbing 4.1% earlier in the day. “China made a mistake by retaliating, and the president is punching back harder,” White House Press Secretary Karoline Leavitt said Tuesday, confirming no delays or exemptions to the tariffs .

Meanwhile, the Trump administration is reconsidering its proposed fee on China-linked vessels arriving at U.S. ports after facing strong opposition from industry groups who warned the measure could have devastating economic effects, Reuters reported, citing sources.

See Also: This Beverage Maker, Tobacco Company And Packaged Food Giant Outshine In A Recession Why It Matters : Tech stocks led the downturn, with Apple Inc. AAPL closing down 4.98%, Tesla Inc .

TSLA shedding 4.90%, and Amazon.com Inc.

AMZN falling 2.68%. The iShares Semiconductor ETF SOXX ended 3.

97% lower, reflecting broad risk aversion. Amid market turmoil, Trump unveiled plans to revive U.S.

coal production, directing federal agencies to fast-track mining permits and slash environmental regulations . Chicago Fed President Austan Goolsbee warned that economic consequences from tariffs may already be materializing, noting concerns that “GDP growth is shrinking.” Read Next: Shaq Says Billionaire Magic Johnson Gave Him the ‘Best’ Money Advice — Being Famous Is Cool, ‘But at Some Point, You Want to Start Owning Things’ Image via Shutterstock Disclaimer : This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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