Story · Donald Trump
Stock market today: Dow, S&P 500, Nasdaq wobble after tech rout as new Trump tariffs take effect
US stock futures edged higher on Friday as markets assessed new global tariffs imposed by President Trump, which took effect overnight, targeting nearly all US imports with rates of 10% to 12.5%. The move comes after a sharp tech-led sell-off on Thursday, where the 'Magnificent Seven' stocks lost nearly $800 billion in market value, driven by ballooning AI spending from Alphabet and Tesla. The sell-off spread to Asian markets, with South Korea's KOSPI and Japan's Nikkei falling. Oil prices retreated from $100 per barrel, with Brent crude down 2% to below $99. Investors are watching S&P Global's flash PMI data and new home sales, while earnings from American Express, NextEra Energy, and Verizon are due.
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