Stock market today: Dow, S&P 500, Nasdaq futures slide as Trump tariffs keep roiling Wall Street

US stock futures extended some of Thursday’s losses, as Wall Street gets ready to wrap up another week of tariff-fueled turmoil.

Futures tied to the S&P 500 (
ES=F
) were down 0.4%, while those on the tech-heavy Nasdaq (
NQ=F)
were off 0.5%. Dow Jones Industrial Average futures (
YM=F
) slipped 0.2%.

The major stock indexes are reeling from whiplash toward the end of another week roiled by President Trump’s
fast-moving tariff policy
, after pulling off
historic gains during Wednesday’s session
followed by
subsequent plunges on Thursday
. The S&P 500 (
^GSPC
) has seen six consecutive sessions of extreme volatility, moving at a range of more than 5% back and forth in each of them.

Thursday’s session showed that the initial optimism from
Trump’s 90-day “pause”
on reciprocal tariffs for most trade partners had given way to concern about his escalation with China.

On Thursday, the White House provided Wall Street with another stunner: Tariffs on Chinese imports were actually increased to 145%, not the 125% that Trump had originally suggested when he announced the broad pause.

Stocks
were routed
, with the latest ballooning levies on China serving as a downward catalyst in the middle of the session. The Dow (
^DJI
) gave up nearly half of the gains it accrued in Wednesday’s high-flying session, and the Nasdaq Composite (
^IXIC
) closing down over 5% for the second time in the last five sessions.

Despite that, the major indexes are positioned for their best week in months, largely on the back of their mid-week surge. That, of course, could all be upended by whatever Friday has to bring to the discussion.

Read more: Live updates on Trump tariffs fallout

Investors on Friday will get another piece of the pre-tariff inflation puzzle on Friday with the release of the Producer Price Index, coming after March’s unusually overshadowed
Consumer Price Index
showed inflation pressures eased last month.

Also, first-quarter earnings season begins in earnest Friday as big banks report results, including JPMorgan (
JPM
), Wells Fargo (
WFC
), and Morgan Stanley (
MS
). Those earnings will be closely studied for any broad signs of consumer fallout amid the tariff turmoil.