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Futures market points to another day of big losses for U.S. stock markets

TORONTO — The futures market pointed to another big drop for U.S. stock markets when trading begins this morning as investors continue to worry about U.S. President Donald Trump's tariffs announced last week.
Canadian Press
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Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top centre, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 7, 2025. (AP Photo/Ahn Young-joon)

TORONTO — The futures market pointed to another big drop for U.S. stock markets when trading begins this morning as investors continue to worry about U.S. President Donald Trump's tariffs announced last week.

European markets were down sharply, while markets in Asia tumbled overnight.

Stock markets sold off last week after Trump's announcement sparked fears of a global recession.

Trump said on the weekend he didn’t want global markets to fall, but also that he wasn’t concerned about the massive sell-offs.

He added: "sometimes you have to take medicine to fix something."

On Friday, the S&P 500 plunged six per cent, while the Dow lost 5.5 per cent. The Nasdaq composite dropped 3.8 per cent to end last week.

This report by The Canadian Press was first published April 7, 2025.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press