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.”

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.

Read Next: