Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Dow futures drop more than 450 points after Trump hits U.S. trading partners with tariffs: Live updates
CNBC ^ | Feb 2, 2025 | Pia Singh

Posted on 02/02/2025 6:26:46 PM PST by lasereye

Stock futures tumbled Sunday night to kick off a new trading month, as investors weighed new U.S. tariffs on goods from key trade partners and their potential impact on the economy and corporate profits.

Futures tied to the Dow Jones Industrial Average slid 463 points, or 1%. S&P 500 futures dropped 1.6%, while Nasdaq-100 futures lost 2.1%.

President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. The U.S. does about $1.6 trillion in business with the three countries.

Canada responded with retaliatory tariffs of its own, while Mexico said it would explore levies on U.S. imports. The Chinese government, meanwhile, said it would file a lawsuit with the World Trade Organization.

“Markets may now need to take the rest of Trump’s tariff agenda literally rather than just seriously … If this new level of seriousness gets priced in suddenly, Monday could be a rough day for markets,” Wolfe Research head of U.S. policy and politics Tobin Marcus said in a note.

Oil and gasoline futures traded higher after the U.S. tariffs. The U.S. dollar also advanced.

Traders are also looking ahead to the biggest week for fourth-quarter earnings, which have become increasingly important in determining the state of the market as tariff concerns ramp and artificial intelligence stocks remain under scrutiny. More than 120 companies in the S&P 500 are set to report their results.

The January nonfarm payrolls report will also be out Friday, adding color to the employment picture so far this year. Economists polled by Dow Jones expect that 175,000 jobs were added last month. The unemployment rate is predicted to have remained unchanged at 4.1%.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Foreign Affairs; Front Page News; News/Current Events
KEYWORDS: dj30industrials; dowjones3051000; msci; msci650; nasdaq; nasdaq26000; stockmarket; tariff; tariffs; trump
Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last
Trump on Truth Social:

THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID. WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE — AND THE RESULTS WILL BE SPECTACULAR!!!

Will this end well? As Trump says: YES, MAYBE (AND MAYBE NOT!).

In the short run Trump is pushing prices higher. He won in large part because of inflation. He's taking a huge gamble.

I think Trump calculates that since those countries run big trade surpluses with us they have more to lose from a trade war. But they may decide otherwise. Trudeau's not running for reelection anyway. The Chinese of course don't even have elections.

1 posted on 02/02/2025 6:26:46 PM PST by lasereye
[ Post Reply | Private Reply | View Replies]

To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; BraveMan; cardinal4; ...

2 posted on 02/02/2025 6:29:10 PM PST by SunkenCiv (The Demagogic Party is a collection of violent, rival street gangs.)
[ Post Reply | Private Reply | View Replies]

To: lasereye

Oh, noes!!! A 1% drop! O, the Hugh manatee!


3 posted on 02/02/2025 6:29:24 PM PST by Texas Eagle ("Throw me to the wolves and I'll return leading the pack"- Donald J. Trump)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lasereye; All

The tariffs are an existential threat to the regimes of Canada and Mexico.

They are an inconvenience to the US.

They capitulate in 15 days or less.


4 posted on 02/02/2025 6:31:55 PM PST by Mariner (War Criminal #18)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lasereye

Pelosi will be fine


5 posted on 02/02/2025 6:35:59 PM PST by JZelle
[ Post Reply | Private Reply | To 1 | View Replies]

To: Texas Eagle

A 1% drop is a buying opportunity.


6 posted on 02/02/2025 6:36:13 PM PST by airborne (Thank you Rush for helping me find FreeRepublic! )
[ Post Reply | Private Reply | To 3 | View Replies]

To: lasereye

The globalists arehaving a tantrum.


7 posted on 02/02/2025 6:43:08 PM PST by cowboyusa (YESHUA IS KING 0F AMERICA, AND HE WILL HAVE NO OTHER GODS BEFORE HIM!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lasereye

I tanked up my 36 gal p/u and bought >1/2 tank of gas [in 5 gal. jugs] for my wife’s car for when it gets below a half.

Plus I seem to have a 6 month supply of Diesel for my “Town Car”.

YMMV

[No TP shortage kr@p for me going forward.]


8 posted on 02/02/2025 6:47:20 PM PST by Paladin2
[ Post Reply | Private Reply | To 1 | View Replies]

To: lasereye

What many have missed is Trump has stated IF countries move their manufacturing plants to the US there will be no tariffs and taxes will be much lower than their native countries.

Sounds like a good plan, problem is how long it takes for foreign companies to move operations to the US.


9 posted on 02/02/2025 6:47:37 PM PST by delta7
[ Post Reply | Private Reply | To 1 | View Replies]

To: lasereye

I, for one, do not think these tariffs are even close to a good idea.


10 posted on 02/02/2025 6:49:26 PM PST by Attention Surplus Disorder (The Democrat breadlines will be gluten-free. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: delta7

https://www.reuters.com/world/us/trump-world-companies-make-products-us-or-face-tariff-2025-01-23/

Trump to global firms: Manufacture in USA or face tariffs….


11 posted on 02/02/2025 6:49:43 PM PST by delta7
[ Post Reply | Private Reply | To 9 | View Replies]

To: lasereye

Emini now down 2%. Nikkei same


12 posted on 02/02/2025 6:50:30 PM PST by RummyChick
[ Post Reply | Private Reply | To 1 | View Replies]

To: lasereye
For long-term investors, the market will rebound.

-PJ

13 posted on 02/02/2025 6:52:29 PM PST by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
[ Post Reply | Private Reply | To 1 | View Replies]

To: delta7

Problem really is how long it takes for foreign invaders to move their operations out of the US...

Not an accident that the US trading partners involved have been mentioned in the border crisis


14 posted on 02/02/2025 6:55:13 PM PST by delchiante
[ Post Reply | Private Reply | To 9 | View Replies]

To: Texas Eagle

>>>Oh, noes!!! A 1% drop! O, the Hugh manatee!

I know, the sky is falling. Yet Jimbo Cramer would be saying, “what’s not to like?”


15 posted on 02/02/2025 6:56:59 PM PST by existentially_kuffer
[ Post Reply | Private Reply | To 3 | View Replies]

To: All

What you could do is deploy armed people to Wall Street and defund all courts that might hear lawsuits — and then confiscate every penny in the US stock market.

It would get you about $39 Trillion. Then pay off the $37T national debt with that and have $2 Trillion left over for working capital.

Anyone who complains is shot. If they try to sue, no courts


16 posted on 02/02/2025 6:57:56 PM PST by Owen
[ Post Reply | Private Reply | To 14 | View Replies]

To: lasereye

-583 Dow futures at this time.


17 posted on 02/02/2025 6:58:04 PM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lasereye

No one likes to admit their wrong. But is your pride worth your destruction? (not you personally, Freepers).


18 posted on 02/02/2025 7:04:08 PM PST by Dat
[ Post Reply | Private Reply | To 1 | View Replies]

To: Attention Surplus Disorder

The US got along just fine on tariffs, till 1913.


19 posted on 02/02/2025 7:09:20 PM PST by WildHighlander57 ((the more you tighten your grip, the more star systems will slip through your fingers.) )
[ Post Reply | Private Reply | To 10 | View Replies]

To: Texas Eagle

Saw this coming, sold about 40% of my position in equities on Friday. Taking advantage of the predictable media doom-and-gloom over the tariffs. Will be back in a couple of weeks after the manufactured panic has died down to re-purchase at cheaper prices.


20 posted on 02/02/2025 7:11:21 PM PST by Kenny Bania (Ovaltine? Why not call it Roundtine?)
[ Post Reply | Private Reply | To 3 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson