US Stock Futures Fall, Nikkei Crashes Over 5% As Markets Reel From Trump's Tariff Shock

U.S. stock futures fell on Thursday night as investors prepared to close a volatile trading week marked by dramatic market swings.

Nasdaq-100 futures led declines, dropping 1.26% to 18,251.75, while S&P 500 futures fell 1.04% to 5,247.00 and Dow futures slipped 0.88% to 39,448.00.

Japan's Nikkei 225 tumbled 5.39% to 32,744.89 in early Friday trading, shedding 1,864 points amid global market volatility. U.S. Treasury yields rose, with the 10-year up 8.4 basis points to 4.47% and the 30-year up 9.6 basis points to 4.94%.

Gold prices surged, with June COMEX contracts rising 1.61% to $3,228.60 as demand for safe-haven assets increased.

Markets remain on edge after President Donald Trump rolled out a temporary 10% universal tariff on most imports, while slapping China with a steep 145% duty, the White House told CNBC. Still, Trump struck a hopeful tone, expressing confidence in eventually reaching a deal with Beijing.

“Would love to be able to work a deal with China,” Trump told reporters at the White House. “I think we will end up working out something good for both nations.”

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The comments helped major indexes trim earlier losses, with the S&P 500 tracked by SPDR S&P 500 SPY closed at 5,268, down 3.46% after falling more than 4% midday. The Nasdaq-100, tracked by Invesco QQQ Trust, Series 1 QQQ, lost 4.19%, dropping to the 18,343 level.

Traders will face additional catalysts on Friday, including major bank earnings from JPMorgan Chase & Co. and Wells Fargo & Co., along with crucial March producer price inflation data that could influence Federal Reserve policy decisions.

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