Advertisment
Stock futures bounced on Tuesday in a slight reprieve from the market turmoil sparked by President Donald Trump’s tariff rollout that led to the biggest equity losses since the pandemic.
Futures for the Dow Jones Industrials spiked 851 points, or 2.2%, to 39,016.
Futures for the S&P 500 index sprang 91.75 points, or 1.8%, to 5,189.
Futures for the tech-heavy NASDAQ charged ahead 272.25 points, or 1.6%, to 17,835.50.
The moves come after three days of steep losses and violent volatility. Monday marked the highest trading volume for U.S. markets in at least 18 years at roughly 29 billion shares.
The 30-stock Dow Jones Industrial Average plunged more than 1,700 points at one point in the session. Between the day’s highs and lows, the index swung 2,595 points. The blue-chip index ultimately closed 349 points, or 0.9%, lower.
The S&P 500 briefly entered bear market territory at the lows of Monday’s session, down more than 20% from its record, before rebounding slightly and finishing the session slightly lower.
The benchmark lost 10% in two days to end last week, its worst losses since 2020 during the outbreak of COVID, as investors fear Trump’s shockingly high tariff rates on most of the world will lead to a recession.
There was little fundamental reason apparent for the bounce Tuesday with more dire trade news overnight. China said it will “fight to the end” after Trump said Monday the U.S. would slap an additional 5
There was some light buying in the premarket of some beaten-up tech shares. Nvidia and Amazon were both up 2% apiece, while Apple gained 1%.
In Japan, the Nikkei 225 index ballooned 6% Tuesday, while in Hong Kong, the Hang Seng captured 1.5%.
Oil prices picked up 36 cents to $61.00 U.S. a barrel.
Gold prices gained $52.90 to $3,026.50 U.S. an ounce.