Friday’s stock markets are set to continue their drop in the wake of President Donald Trump’s tariff announcement – with Dow Jones futures down 1,4000 points in overnight trading.
On Thursday, Wall Street saw a historically bad day with the Dow Jones having a point drop that ranked in the top 5 worst of all time. The NASDAQ saw its largest one-day point drop in that market’s history.
Stock markets are set to open at 9:30 a.m. Friday.
Investors appeared to be spooked by the impacts of Trump’s tariff and China’s retaliatory 34 percent tariffs on U.S. goods in response.
Trump announced sweeping tariffs on U.S. trading partners sparking fears of a global trade war. He said it is necessary to make it fair for American manufacturers and return jobs to America. However, experts have said his plan could have a massive negative impact on the economy.
JPMorgan’s Chief Economist Bruce Kasman said the investment bank now sees a 60 percent chance of the global economy entering recession in 2025, up from 40 percent.
