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Futures down: Dow 0.6%, S&P 500 0.91%, Nasdaq 1.27%

(Adds gene therapy stocks, Russell 2000 futures move)

By Sruthi Shankar and Pranav Kashyap

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

Monday as investors shied away from risky assets amid mounting

concerns that the Trump administration's upcoming announcement

of extensive tariff plans could hurt the global economy.

Global stocks 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 7:00 a.m. ET (1200 GMT), U.S. S&P 500 E-minis

fell 51.25 points, or 0.91%, Nasdaq 100 E-minis

dropped 246.5 points, or 1.27%, and Dow E-minis were

down 251 points, or 0.6%.

Futures tracking the domestically focused Russell 2000 index

were down 1.2%.

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

this year as Trump announced tariffs on some of the United

States' 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.

The blue-chip Dow Index is teetering just about 2%

away from confirming a correction, or a 10% decline from its

all-time high. Meanwhile, the other two major Wall Street

indexes have already entered correction territory earlier this

month.

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

with Nvidia ( NVDA ) sliding 3.8% in premarket trading.

Microsoft ( MSFT ) fell 1.4% and Tesla slid 5%.

The CBOE Volatility index, also known as Wall

Street's fear gauge, touched a more than two-week high at 24.04

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.

Shares of gene therapy makers and developers slid after a

report that Peter Marks, a top official at the U.S. FDA, has

been pushed out of the agency.

Taysha Gene Therapies ( TSHA ) and Solid Biosciences ( SLDB )

were down more than 6% each, while U.S.-listed shares

of CRISPR Therapeutics lost 2.8%.