Dow Jones Today: Stock Futures Sharply Lower as Tariff Jitters Persist on Wall Street

U.S. stock futures fell sharply in premarket trading on Thursday as tariff news continued to put Wall Street on edge.

Futures contracts connected to the Nasdaq 100 were down more than 1.5% in early trading on Thursday, while S&P 500 futures were off 1.1% and Dow Jones Industrial Average futures were down 0.9%. Stocks rallied yesterday after the Trump administration announced a one-month delay to tariffs on cars and car parts from Canada and Mexico.

Wall Street is concerned that Trump’s tariffs—and the counter-tariffs they inspire—could reaccelerate inflation and slow economic growth across North America. Yesterday’s carve out for carmakers offered some relief, but Trump has promised more tariffs to come by April 2. Investors and business leaders are highly uncertain about what those tariffs will be, how long they’ll last, and how they’ll impact the economy.

Treasurys were mixed ahead of tomorrow’s hotly anticipated February jobs report, which investors will be watching for early evidence of how Trump’s policies are affecting business sentiment. The 10-year Treasury yield, which is influenced by investor expectations for inflation and Federal Reserve policy, stood at 4.3% in recent trading, up from 4.28% at yesterday’s close. Short-term yields were lower, with the 2-year hovering just below 4%.

Shares of Marvell Technologies (MRVL) tumbled nearly 20% Thursday morning after the chipmaker’s current-quarter outlook fell short of lofty expectations. Chip stocks were under pressure across the board, with AI giants Nvidia (NVDA) and Broadcom (AVGO) down 3% and 4%, respectively. Broadcom will publish its quarterly earnings report after the bell.

Bitcoin traded around $90,000 Thursday morning, little changed from its price at the close of equity markets yesterday. The U.S. dollar continued to slump and was trading at its lowest level since before Trump’s election victory in November. West Texas Intermediate oil futures prices stabilized around $66.70 after tumbling yesterday.