US stock futures dropped early Tuesday, snapping a six-day rally as investors refocused on the lasting impact of tariffs despite recent trade deal hopes.
- Dow futures fell 0.5%
- S&P 500 futures dropped 0.6%
- Nasdaq 100 futures slid 0.7%
The S&P 500 had surged last week on optimism over China-US trade talks, but warninUS Stock Futures Drop, Dollar Hits Two-Week Low on Tariff and Debt Concernsgs about “unwarranted optimism” are surfacing as tariffs remain at record highs.
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Meanwhile, the US dollar fell to a two-week low, pressured by rising debt concerns and speculation the Trump administration may favor a weaker currency. Moody’s recently downgraded US debt, and lawmakers are debating tax cuts amid a $4.5 trillion revenue gap.
Eyes now turn to earnings from Target and Lowe’s for more insight into how tariffs are hitting consumers and retailers.
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