March S&P 500 E-Mini futures (ESH25) are down -0.33%, and March Nasdaq 100 E-Mini futures (NQH25) are down -0.44% this morning as investors digested another round of tariffs introduced by U.S. President Donald Trump and looked ahead to Federal Reserve Chair Jerome Powell’s congressional testimony as well as Wednesday’s release of a key U.S. inflation report.
Late Monday, President Trump ordered a 25% tariff on steel and aluminum imports from all countries, including key suppliers Mexico and Canada, effective March 12th, but stated he would consider an exemption for Australia. Trump earlier said he would introduce reciprocal tariffs on countries that tax U.S. imports this week.
