07:24 AM EDT, 04/10/2025 (MT Newswires) -- The benchmark US stock measures fell before Thursday's opening bell as investors assess President Donald Trump's announcement to pause certain tariffs for non-retaliating countries and await a key inflation report.

The S&P 500 dropped 1.8%, the Dow Jones Industrial Average declined 1.4% and the Nasdaq fell 2.1% in premarket activity. The S&P 500 and the Dow each snapped a four-day losing streak on Wednesday and closed the session in the green, while the Nasdaq saw its biggest gain since January 2001.

Wednesday's stock rally came as Trump announced a 90-day pause on the full effect of his new tariffs for countries that have not retaliated against the US. However, Trump increased tariffs on China to 125%, effective immediately, following recent retaliatory duties announced by Beijing.

European Commission President Ursula von der Leyen said Thursday the European Union will pause its retaliatory tariffs on US goods for 90 days, according to media publications.

The consumer price index report for March is scheduled for an 8:30 am ET release. Government data are expected to show that consumer inflation rose 0.1% sequentially and 2.5% annually last month, according to a Bloomberg-compiled consensus. The weekly jobless claims data is also out at 8:30 am.

US Treasury yields moved lower in premarket action, with the two-year rate sliding 8.1 basis points to 3.87% and the 10-year rate dropping 11 points to 4.29%.

Federal Reserve officials indicated last month that tariffs were likely to increase inflation this year, while heightened macro uncertainty called for a "cautious approach," minutes from the central bank's March 18-19 meeting showed Wednesday.

Shares of Constellation Brands ( STZ ) were down 2.4% pre-bell as the beer and wine company issued a downbeat fiscal 2026 earnings outlook. RH (RH) declined 3.7% after closing the previous session up 29%. Trump Media & Technology ( DJT ) gained 4.4%.

Another key market focus today will be a series of Fed official speeches, beginning with Richmond Fed President Thomas Barkin's remarks at 8:30 am. Fed Governor Michelle Bowman is slated to speak at 10 am.

Used vehicle retailer CarMax ( KMX ) is set to report its latest financial results before the bell, among others. Wall Street banking heavyweights JPMorgan Chase ( JPM ) , Wells Fargo ( WFC ) and Bank of New York Mellon ( BK ) release quarterly earnings on Friday.

West Texas Intermediate crude oil decreased 2.4% to $60.90. US weekly commercial crude stockpiles rose in line with market projections, government data showed Wednesday. The weekly EIA natural-gas supplies report posts at 10:30 am.

Gold inclined 1.9% to $3,136 per troy ounce. Bitcoin declined 0.8% to $81,608.