Market Turmoil: U.S. Stocks Plunge Amid Proposed Tariffs

U.S. stock index futures faced a dramatic decline on Friday as President Donald Trump suggested imposing a steep 50% tariff on the European Union, set to begin on June 1.

At 07:49 a.m. ET, the Dow E-minis plummeted 505 points, marking a 1.2% decrease. Simultaneously, S&P 500 E-minis fell by 73.5 points, equivalent to a 1.25% drop, and Nasdaq 100 E-minis saw a decrease of 308.75 points, or 1.46%.

This development signals a potential escalation in trade tensions between the U.S. and the EU, potentially impacting global economic stability.

(With inputs from agencies.)