June S&P 500 E-Mini futures (ESM25) are down -3.29%, and June Nasdaq 100 E-Mini futures (NQM25) are down -3.81% this morning as worries over the economic fallout of U.S. President Donald Trump’s sweeping tariffs continue to weigh on sentiment.
President Trump, speaking to reporters on Sunday aboard Air Force One following a weekend of golf in Florida, repeatedly stood by the sweeping tariffs announced last week. He said that “sometimes you have to take medicine to fix something.” Also, U.S. Treasury Secretary Scott Bessent on Sunday adopted a defiant stance amid the global stock market sell-off triggered by new U.S. tariffs, asserting that the measures are necessary and dismissing concerns that they will lead to a U.S. recession. “We get these short-term market reactions from time to time. The market consistently underestimates Donald Trump,” he said.
