(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

*

Futures down: Dow 0.6%, S&P 500 0.9%, Nasdaq 1.2%

March 31 (Reuters) - U.S. stock index futures tumbled on

Monday as investors avoided risky assets on fears that the Trump

administration's sweeping tariff plans set to be unveiled this

week will hurt the global economy.

Stocks across the world fell sharply, gold prices scaled new

highs and U.S. Treasuries rallied after U.S. President Donald

Trump said on Sunday that reciprocal tariffs he is set to

announce this week will include all nations.

At 5:30 a.m. ET (0930 GMT), S&P 500 E-minis fell 49

points, or 0.87%. Nasdaq 100 E-minis dropped 240 points,

or 1.23%, and Dow E-minis were down 244 points, or

0.58%.

U.S. stock markets have succumbed to sharp selling pressure

this year as Trump announced tariffs on some of its main trading

partners, raising fears of a global economic slowdown and a

spike in inflation.

Trump, who sees tariffs as a way of protecting the domestic

economy from unfair global competition, has promised to unveil a

massive tariff plan on Wednesday, which he has dubbed

"Liberation Day".

"We doubt 'Liberation Day' is going to mark the end around

tariff uncertainty ... the potential is in fact higher for the

April 2 deadline to introduce even more uncertainty, and hence

the prolonged broad-based weakness in leading indicators," said

HSBC's Chief Multi-Asset Strategist Max Kettner.

Wall Street's main indexes were set for big monthly and

quarterly declines, with the benchmark S&P 500 and the

tech-heavy Nasdaq set for their worst quarterly

performances in about three years.

Tech stocks were at the forefront of the selloff on Monday,

with Nvidia ( NVDA ) sliding 3.6% in premarket trading.

Microsoft ( MSFT ) fell 1.6% and Tesla slid 4.3%.

The CBOE Volatility index, also known as Wall

Street's fear gauge, touched a more than two-week high at 23.88

points.

Goldman Sachs raised its U.S. recession probability to 35% from

20% and cut its 2025 GDP growth forecast to 1.5% from 2.0%.

Goldman also expects the Federal Reserve to cut interest rates

thrice this year, up from its previous forecast of two,

expecting heightened recession risks due to U.S. tariffs.

The focus this week will also be on a slew of economic data

including the crucial non-farm payrolls report on Friday as well

as speeches from several U.S. central bank officials. Fed Chair

Jerome Powell is scheduled to speak on Friday.