Market Turmoil Following Earnings Reports

In a surprising turn of events, major United States futures experienced a significant downturn early Thursday. The spotlight was on IBM, which saw its shares plummet nearly 8% in the premarket, following the release of its quarterly earnings report.

Trade Tensions Between US and China Remain Unresolved

Despite the Trump administration's expressed willingness to reduce trade levies, progress in negotiations with China appears stalled. Chinese officials have confirmed that no current negotiations are taking place, leaving investors wary of the ongoing trade tensions.

Market Indices Show Significant Declines

By 4:11 am ET, the Dow Jones had slid 0.61%, or 242 points, with the Nasdaq 100 and S&P 500 following suit, dropping 1% and 0.76% respectively. Meanwhile, the euro traded 0.55% above the dollar, marking a slight uptick in currency markets.