Dow Jones Today: Stock Futures Fall as Investors Await Details on New Tariffs; S&P 500 Coming Off Worst Month Since 2022

Stock futures are pointing to a lower open for major indexes on Tuesday ahead of announcements on new tariffs the Trump administration has said will be implemented this week.

Futures tied to the Dow Jones Industrial Average  were down 0.5% about an hour before the opening bell, while those linked to the S&P 500 and tech-heavy Nasdaq slipped 0.4%. Stocks turned in a mixed performance on Monday, with the Dow and S&P 500 finishing in positive territory after rebounding from big declines early in the session.

The S&P 500 and Nasdaq Composite are coming off their worst month since 2022 as investor sentiment has been dented by uncertainty about the impact of tariffs and concerns about the health of the economy. President Trump has said the U.S. will impose wide-ranging reciprocal tariffs on trading partners on Wednesday. The lack of details about what will be announced has put markets on edge, amid fears that the trade measures will spark inflation and cause economic growth to slow.

Market participants will also be paying close attention to economic indicators that are due to be released this morning, including reports on manufacturing activity and job openings. The big data event of the week comes Friday, when the March jobs report is slated to be released.

The yield on the 10-year Treasury, which has fallen in recent days as the economic concerns have grown, tumbled to 4.16% this morning, from 4.25% at yesterday’s close. The yield, which affects borrowing costs on all sorts of loans, notably mortgages, is trading at its lowest levels in nearly a month.

Shares of the world’s largest technology companies were mostly lower in premarket trading. Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META) and Broadcom (AVGO) were all losing ground. Shares of Tesla (TSLA), which lost more than a third of their value in the first quarter, were up nearly 2% ahead of the scheduled release tomorrow of the EV maker’s March deliveries report. Nvidia (NVDA) shares inched higher.

Johnson & Johnson (JNJ) shares were down nearly 4% this morning after a judge rejected a request to approve a proposal to settle tens of thousands of lawsuits that allege the company’s baby powder and other talc products cause cancer.

Airline stocks, which have lost ground lately amid concerns about travel demand trends, were also under pressure after Jefferies reportedly downgraded its ratings on Delta (DAL), American (AAL) and Southwest (LUV). Shares of each of the carriers were down about 2% before the bell.

Gold futures were up 0.4% at $3,160 an ounce, after hitting another record high this morning as investors turn to traditional safe havens. West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 0.3% to $71.30 per barrel.

Bitcoin was trading at around $84,000, up from an overnight low of $82,200.