Investors were anxiously awaiting the empty of US dealing after Wall Street’s pullback last week following the Trump administration’s tariffs announcement, anticipating another week of turbulence as different nations react.
In the two days following Trump’s Wednesday ( Apr 2 ) tariff announcement, the benchmark S&, P 500 index fell 10.5 percent and lost about US$ 5 trillion in market value. It was the biggest two-day lost since March 2020. Thursday and Friday’s steep drop put the S&, P 500 down more than 17 percentage from its February 19 all-time final higher, and brought it closer to bear market place, which would be a 20 percent reduction.
Futures will start at 6 am ET ( 6 am, Singapore day ) Sunday, which may give an indication of how dealing might appear on Monday.
” The bull market is dead”, said Mark Malek, chief investment officer at Siebert Financial. ” We may see some benefits in the next few times, but for now they’re not going to be responsible”.
The schedule of the levies news, which coincided with the beginning of the first-quarter income winter, is contributing to the dreary outlook, Malek said.
On Sunday day talk shows, Trump’s top financial experts sought to present the taxes as a shrewd repositioning. Treasury Secretary Scott Bessent said on NBC News ‘” Meet the Press” that there was” no reason” to anticipate a recession.