Brace yourself: US major indices are expected to open sharply lower

The day has been known, but with the so-called “Liberatation Day” ahead on April 2 where Pres. Trump’s administration will “hit essentially all countries with tariffs” in response to their tariffs, the global markets are bracing for slower growth and lower earnings as a result.

The futures are implying a lower opening across the board. European shares are also lower. The current futures are targeting:

• Dow industrial average -289 points
• S&P index -55 points
• NASDAQ index -265 points

On Friday, the broader indices fell for the third consecutive day. The Dow industrial average has been lower for four consecutive days:

• Dow industrial average -715.80.0 -1.69%
• S&P index -112.37 points or -1.97%
• NASDAQ index -481.04 points or -2.70%

For the trading week, the major indices all fell:

• Dow industrial average -0.96%
• S&P index -1.53%
• NASDAQ index -2.59%

This article was written by Greg Michalowski at www.forexlive.com.