US stock futures on Monday pointed to sharp losses for the major indexes, as Wall Street showed the effects of President Donald Trump’s announcement of tariffs on China, Mexico, and Canada.
Nasdaq 100 futures (NQ=F) dived 2.3%, leading the way down. S&P 500 futures (ES=F) spiraled 1.9%, and futures attached to the Dow Jones Industrial Average (YM=F) stumbled 1.5%, or around 650 points.
The tariffs, set to take effect on Tuesday, will include 25% duties on Canada and Mexico, and 10% on China. Energy imports from Canada will be lower with a 10% duty.