Stock Market Today: Dow Futures Drop; Dollar Weakens Further

Big shifts in global government policy are stirring markets early Thursday.

In the U.S., the dollar weakened further and stock futures dropped, suggesting indexes could reverse the rally that followed a partial rollback of tariffs Wednesday. Investors are unnerved by the day-to-day changes in the White House’s tariff policy, with delays, exceptions and extensions all on the table.

Overseas, investors dumped government bonds, as Germany’s plans for a huge increase in spending rippled through markets. German bond yields extended Wednesday’s historic surge, while Japanese long-term yields hit their highest levels since 2009.

In other recent market action:

S&P 500 and Dow industrials futures fell roughly 1%, while Nasdaq-100 futures dropped more.

Global markets were mixed. The Stoxx Europe 600 edged lower. Asian indexes largely rose, with Hong Kong’s Hang Seng up 3.3%, driven by gains in Chinese tech stocks.

U.S. Treasury yields ticked higher, but less than yields in Europe and Japan.

Bitcoin rose to around $91,000.

Coming up Thursday:

The European Central Bank is expected to cut interest rates again in an announcement due at 8:15 a.m. ET.

Broadcom and Costco are due to report earnings this afternoon.