Pharma Tariffs and Market Turmoil: Trump's Trade War Intensifies

On Tuesday, U.S. stock index futures witnessed a downturn after President Donald Trump's proposed tariffs on pharmaceutical imports led to renewed concerns over the ongoing global trade war. The announcement dampened investor optimism despite some corporate attempts to mitigate the impact on markets.

Pharmaceutical giants Eli Lilly and Pfizer saw minor fluctuations in premarket trading, while Ford Motor suspended its annual outlook due to anticipated tariff-related losses. The U.S. Federal Reserve begins its two-day meeting, expected to maintain a steady approach on interest rate adjustments.

Markets remain unsettled, with no significant developments in U.S. trade agreements, leading to a cautious approach among investors. Economic analysts highlight the persisting uncertainties and the potential dampening effects of these trade measures on global financial stability.

(With inputs from agencies.)