Dow Futures Dive 1,500 Points Amid Tariff Fallout

U.S. stock futures plummeted Sunday evening, signaling another brutal market session ahead as the fallout from President Donald Trump’s sweeping tariff policy continues to rock global markets. Dow Jones Industrial Average futures dropped 1,531 points, or approximately 4%, as trading opened for the week, extending what has already become one of the most severe market selloffs since the early days of the COVID-19 pandemic.

S&P 500 futures shed 4% while Nasdaq-100 futures tumbled even further, losing 4.8%, according to CNBC. The steep decline suggests Monday’s regular trading session could deliver another heavy blow to investors already reeling from last week’s historic losses.

The weekend brought no relief to anxious market participants who had hoped the administration might signal flexibility on the tariffs scheduled to take effect April 9. Instead, administration officials doubled down on the policy despite the market turmoil.

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Commerce Secretary: “The Tariffs Are Coming”

“The tariffs are coming,” Commerce Secretary Howard Lutnick declared on CBS’s “Face the Nation” Sunday. “He announced it, and he wasn’t kidding. The tariffs are coming. Of course they are.” The secretary emphatically rejected any possibility of postponing the implementation date, adding: “There is no postponing. They are definitely going to stay in place for days and weeks.”

Lutnick emphasized that the administration views the controversial policy as necessary regardless of market reaction. “The president needs to reset global trade. Everybody has a trade surplus and we have a trade deficit,” he stated.

The futures selloff follows what The Wall Street Journal described as “a turbulent stretch for global markets that many traders fear will worsen in coming days.” Many investors reported experiencing flashbacks to the March 2020 market crash, anxiously monitoring their devices throughout the weekend to gauge market sentiment.

Fears of “Black Monday” Scenario

The continuing market decline has prompted CNBC host Jim Cramer to warn of a potential “Black Monday” scenario reminiscent of the historic market collapse of 1987, when the Dow plunged 22.6% in a single session. “If the president doesn’t try to reach out and reward these countries and companies that play by the rules, then the 1987 scenario… the one where we went down three days and then down 22% on Monday, has the most cogency,” Cramer said on his show Saturday, as reported by The Hill.

Market strategist Ed Yardeni captured the mood in a note to clients Sunday: “Trump’s Liberation Day last Wednesday triggered annihilation days on Thursday and Friday, with the stock market vigilantes giving a costly thumbs-down to Trump’s reign of tariffs.” Yardeni warned of a potential “vicious circle” where market declines create a negative wealth effect that dampens consumer spending, further increasing recession risks and pushing stocks lower.

JUST IN: Peter Schiff mocked Michael Saylor, suggesting he should invest heavily to prevent losses as Bitcoin fell below $80K. pic.twitter.com/dJAAD64Cgf
— ChainDesk (@ChainDesk_) April 6, 2025

International Reaction Intensifies

While the administration claimed that more than 50 nations had reached out to begin negotiations, major trading partners appear to be preparing retaliatory measures rather than concessions. Canada and the European Union are reportedly readying their own tariff packages against U.S. goods, following China’s swift implementation of a 34% tariff on all American imports.

Vietnam stands as a notable exception, with Trump indicating they have offered to reduce tariffs on U.S. goods to zero. Meanwhile, Israeli Prime Minister Benjamin Netanyahu arrived in Washington Sunday evening and is expected to discuss the 17% tariff imposed on Israeli exports to its closest ally.

Cryptocurrencies Join the Selloff

Even Bitcoin, which had shown remarkable resilience during last week’s market tumult, succumbed to selling pressure Sunday evening. The flagship cryptocurrency dropped below $80,000, falling 5% to $78,647.33 according to Coin Metrics. Other digital currencies suffered even steeper declines, with Ether and Solana-linked tokens plunging approximately 10% each.

Crypto analysts noted that Bitcoin has generally traded in tandem with tech stocks, though it had bucked that trend last week by holding steady while equity markets collapsed. With global recession fears mounting, digital assets appear to be rejoining the broader market decline.

As traders brace for Monday’s opening bell, the key question remains whether the administration will maintain its hardline stance on tariffs in the face of escalating market turmoil, or whether it might eventually offer concessions to calm increasingly panicked investors.

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