The trader works on the floor of the New York Stock Exchange (NYSE) in New York City, USA on April 11, 2025.
Brendan McDermid | Reuters
Stock futures slid on Tuesday to watch the signs of progress in global trade trading as investors awaited a Federal Reserve policy decision.
S&P 500 Futures A decrease of 0.9%. Futures linked to the Dow Jones Industrial Average It fell by 303 points, or nearly 0.7%. Nasdaq-100 Futures A decrease of 1.2%.
The Fed is widely expected to maintain a stable rate on Wednesday, with Fed fund futures trading suggesting a central bank’s reduction rate of just 2.7%. Still, the traders listen to Chairman Jerome Powell’s comments on his economic outlook.
Tariff uncertainty continues to keep the weight down in the market. Trump is scheduled for a meeting with Canadian Prime Minister Mark Carney on Tuesday, marking the start of negotiations between the two leaders since Carney took office earlier this year.
“We’re very close to some deals,” Treasury Secretary Scott Bescent told CNBC Monday. A Bloomberg report citing familiar people said India is proposing zero tariffs on certain products.
Nevertheless, no official trade deals between the United States and its trading partners have been announced yet. Data issued Monday by the Supply Management Institute showed stronger services sector activity than planned in April, but tariff concerns remained.
“We have seen temporary disruption and slowing growth in terms of supply chains, if not a short, shallow recession, and it could temporarily affect inflation and maintain the Federal Reserve, which is in a position of difficulty in flexibility with interest rates.”
“But… we don’t see this as a long, painted mess,” Hornman added. “The countries around the world are so intertwined, they are dependent on each other, and we are trying to make sure some agreements don’t take place late.”
During the Monday session, S&P 500 It fell 0.6% to snap the nine-day rally. This is the longest winning streak since 2004. Nasdaq Composite I dropped 0.7%, Dow I slid 0.2%.
