Market Reacts to Trump's Tariff Comments

Following President Donald Trump's remarks on considering a "total victory" if tariffs up to 50% are imposed a year from now, United States market futures experienced a downturn. Trump also mentioned making 200 trade deals since announcing tariffs, though specifics were not disclosed.

Corporate Earnings Reports Add to Market Gloom

Adding to the market's unease, both SLB and Colgate-Palmolive reported declines in their first-quarter revenues, further dampening investor sentiment.

Futures and Currency Movements

By early morning trading, the Dow Jones futures had fallen by 41% or 167 points, with the Nasdaq 100 and S&P 500 also seeing losses of 0.44% and 0.38%, respectively. The euro also weakened against the dollar, trading 0.30% lower.