March S&P 500 E-Mini futures (ESH25) are down -0.43%, and March Nasdaq 100 E-Mini futures (NQH25) are down -0.60% this morning, tracking losses in European equities after ECB President Christine Lagarde stated that U.S. tariffs heightened uncertainty over the economic outlook.
Stock futures initially moved higher after the Federal Reserve indicated there remains scope to lower interest rates later this year, as any tariff-driven rise in inflation is expected to be temporary. However, concerns remain that U.S. President Donald Trump will keep raising trade tariffs, which could dampen economic growth and drive inflation.
