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US STOCKS-Trump's tariff barrage knocks Wall St futures lower
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US STOCKS-Trump's tariff barrage knocks Wall St futures lower
Jul 11, 2025 3:16 AM

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

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

*

Futures down: Dow 0.53%, S&P 500 0.53%, Nasdaq 0.48%

July 11 (Reuters) - U.S. stock index futures fell on

Friday as President Donald Trump launched fresh salvoes in his

tariff offensive, rattling investors ahead of earnings season

next week.

Trump said on Thursday the U.S. would impose a 35% levy on

imports from Canada next month. The U.S. president also floated

a blanket 15% or 20% tariff rate on other countries, a step up

from the current 10% baseline rate.

He said the European Union would soon receive a formal

letter later in the day, as the bloc scrambles to strike a deal

with Washington.

At 5:00 a.m. ET, Dow E-minis were down 238 points,

or 0.53%, U.S. S&P 500 E-minis were down 33.25 points,

or 0.53%, and Nasdaq 100 E-minis were down 109.5

points, or 0.48%.

Markets have remained largely subdued this week, with the

only highlight being Nvidia ( NVDA ) becoming the first company

to breach the $4 trillion valuation milestone.

The S&P 500 and tech-heavy Nasdaq are on

track to end the week little changed, while the Dow looks set to

snap its three-week winning streak - the longest since January.

Analysts are noting a growing sense of resilience among

investors, who seem to be getting used to Trump's tariff

threats. Market moves in response to new tariff announcements

are far less choppier than the turbulence of early April's

"Liberation Day" announcements.

While investors are firmly glued to latest developments on

tariffs, the upcoming earnings season will offer clues on how

trade uncertainties are affecting corporate results.

Wall Street's big banks are scheduled to report quarterly

results next week, with J.P Morgan kicking off the

earnings season on Tuesday.

The coming week is also packed with economic data releases,

including consumer and producer price inflation and retail

sales.

Cryptocurrency stocks ticked up as bitcoin rose to a

record high. Coinbase Global ( COIN ) rose 2.4%, while Bitfarms

gained 5.1%. Strategy and Riot Platforms ( RIOT )

advanced over 3.3% each.

(Reporting by Pranav Kashyap in Bengaluru)

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