US stock futures decline and oil prices rise after new tariffs announced by Trump
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US stock futures fell and oil prices surged after President Trump's announcement of significant tariffs on imports from Canada, Mexico, and China, raising concerns about market volatility.
U.S. stock-index futures opened sharply lower and oil prices jumped Sunday night as investors braced for volatility across financial markets following President Donald Trump's announcement of heavy tariffs on imports from Canada, Mexico, and China.
Analysts reported that the sweeping tariffs, which include levies of 25% on imports from Canada and Mexico, 10% on energy products from Canada, and an additional 10% tariff on China, would unsettle investors. Previously, market participants had hoped that Trump was merely using the threat of steep levies as a bargaining tool or would take a slower, more gradual approach.
