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US stock futures sank as Wall Street girded for President Trump's massive tariffs on key US trading partners to take full effect starting Wednesday. Futures tied to the S&P 500 (ES=F) were down 1%, while those on the tech-heavy Nasdaq (NQ=F) fell 1.1%. Dow Jones Industrial Average futures (YM=F) slide 1.1%. Trump's so-called "reciprocal" tariffs — the announcement of which stunned markets last week — are in full effect as of 12:01 a.m. Wednesday. They continue to bring chaos to Wall Street, as stocks ended up on another roller-coaster ride...

It's been one of the most chaotic stretches for US markets in recent memory. And the massive surge in long-term Treasury yields has served as yet another example of the bizarre trading action in the aftermath of Trump's tariff-fueled "Liberation Day." The 10-year yield (^TNX) jumped 17 basis points to kick off the week, a massive 34 basis point swing from a low of 3.87% to a high of 4.21%. The yield extended those gains on Tuesday, climbing as much as 10 basis points to hover at around 4.25%. Similarly,...

The stock market has been reeling since Trump's "Liberation Day" tariff announcement back on April 2. But even before this shock announcement tipped the Nasdaq into a bear market and sent the S&P 500 down 10% in two trading days, stocks had struggled this year as the reality of Trump's desire to impose tariffs on a wide range of partners and a wide range of goods was increasingly resolute. In turn, investors had spent much of this year searching for the "Trump put," or the level in the stock market...

Some of President Trump's prominent backers in the business community are sounding the alarm on his rollout of reciprocal tariffs and the resulting market fallout. Outspoken billionaire investor Bill Ackman, who endorsed the president last July following the assassination attempt on Trump, said in a lengthy post on X late Sunday that, barring Trump calling a "time out" on his tariffs plans, we could be headed for an "economic nuclear winter." "The President has an opportunity on Monday to call a time out and have the time to execute on...

For more than a century, no asset class has delivered a higher average annual return than stocks. But this doesn't mean the stock market moves from Point A to B in a straight line. Over the last six weeks and change, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), widely followed S&P 500 (SNPINDEX: ^GSPC), and growth-centric Nasdaq Composite (NASDAQINDEX: ^IXIC) have taken the elevator lower. Since Feb. 19, which is when the S&P 500 hit its all-time closing high, the Dow Jones, S&P 500, and Nasdaq Composite have respectively...

President Trump's shocking tariff announcement on Wednesday has markets reeling as investors, economists, and the public try to make sense of how these actions will weigh on the US and global economies in the months ahead. In a note to clients on Thursday, economists at Wells Fargo led by Brendan McKenna wrote, "Liberation Day will also be a strong test of our deglobalization and fragmentation view." The firm added (emphasis added): While Trump's new tariff program announced Wednesday may well be the start of what Wells Fargo calls an "escalate...

As markets sold off late Wednesday, President Trump touted the domestic investments from Big Tech as companies like Apple (AAPL), Nvidia (NVDA), and others pledge billions to expand their respective footprints in the United States. "Apple is going to spend $500 billion. They never spent money like that here," Trump said, referencing the company's plans to invest in its US operations over the next four years, which will include plans to build a new manufacturing factory, double its advanced manufacturing fund, and hire 20,000 people. Apple (AAPL) shares still fell...

As markets sold off late Wednesday, President Trump touted the domestic investments from Big Tech as companies like Apple (AAPL), Nvidia (NVDA), and others pledge billions to expand their respective footprints in the United States. "Apple is going to spend $500 billion. They never spent money like that here," Trump said, referencing the company's plans to invest in its US operations over the next four years, which will include plans to build a new manufacturing factory, double its advanced manufacturing fund, and hire 20,000 people. Apple (AAPL) shares still fell...

00:00 Speaker A And to some degree, we're already seeing evidence that things are different this time around. We have news of China blocking off investments into the United States, for example, potentially allies abroad teaming up against the US. To what extent is that a headwind that you are concerned about? 00:26 Scott Minerd Well, you know, I I do think that there's been national security concerns about Chinese investment in the United States for a while. So the level has not been significant. So I'm not sure that...

Homebuilder stocks edged lower on Wednesday as concerns over President Trump’s big tariff announcement raised fears that higher construction costs could slow the housing recovery. D.R. Horton, Inc. (DHI), the biggest US homebuilder, slid nearly 1% Wednesday morning, while Lennar (LEN) and PulteGroup (PHM) fell 0.7% and 0.4%, respectively. Trump is scheduled to unveil his major tariff plan details at a Rose Garden address this afternoon. Builders have been growing concerned about the impact of these tariffs, especially on materials from China, Canada, and Mexico. Morgan Stanley warns that tariffs...