Wall Street futures plunge as tariffs spark global recession concerns

U.S. stock futures tumbled Thursday after President Trump imposed sweeping tariffs, fueling fears of a global trade war and economic downturn.

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S&P 500 futures fell 3%, Dow futures dropped 2.4%, and Nasdaq 100 sank 3.3%, with Apple sliding 6.5% due to steep China tariffs. Microsoft, Nvidia, and Amazon also declined.

Investor anxiety spiked as safe-haven assets surged. The CBOE Volatility Index hit a three-week high, while bonds and gold rallied. Retail stocks took a hit, with Nike down 8.3% and Walmart 6.2% after tariffs extended to Vietnam and Indonesia.