Stock Futures Dip as Market Extends Weekly Losses Amid Earnings, Tariff Concerns

US stock futures edged lower early Monday as Wall Street began the week under continued pressure from weak recent performance, corporate earnings uncertainty, and trade policy concerns.

Futures tied to the S&P 500 fell by 0.79%, while Nasdaq-100 futures declined 0.82%. Futures for the Dow Jones Industrial Average dropped by 318 points, or 0.81%.

The downturn follows another challenging week for markets. Despite a modest gain in the S&P 500 during Thursday’s session, the index finished the shortened trading week down 1.5%. The Dow Jones and Nasdaq Composite each posted losses of over 2% for the week, marking their third consecutive losing sessions. Markets were closed Friday in observance of Good Friday.

Much of last week’s pressure came from sharp declines in high-profile stocks. UnitedHealth shares dropped more than 22% after the healthcare company reported weaker-than-expected earnings and cut its full-year forecast, significantly impacting the Dow. Meanwhile, chipmaker Nvidia fell nearly 3% Thursday, compounding a nearly 7% drop the day before. The company announced it would take a $5.5 billion charge related to US restrictions on exports of certain graphics processing units to China and other countries.

Trade policy continues to be a major factor in market sentiment. President Donald Trump’s tariff policies have sparked concern about economic growth and inflation. Over the weekend, Chicago Federal Reserve President Austan Goolsbee warned in an interview that tariffs could lead to a decline in economic activity by summer. Earlier in the week, Fed Chair Jerome Powell noted that ongoing tariffs could complicate the Federal Reserve’s efforts to manage inflation and support growth.

Despite these concerns, some market analysts suggest the most extreme volatility may be behind.

“Although the tariff situation remains fluid, we believe the roughly 10% daily and weekly market swings seen in recent weeks are behind us for now,” said Mike Dickson, head of research at Horizon Investments.

He added that while market uncertainty may continue to weigh on valuations, extreme fluctuations could become less common.

This week, investors are focused on a heavy slate of corporate earnings reports. More than 100 S&P 500 companies are expected to report, including major names such as Alphabet, Tesla, Boeing, and General Electric. Analysts and investors alike will be closely watching earnings calls for clues on how companies are navigating the economic environment, especially in the face of tariffs and trade-related supply chain challenges.

In overseas markets, Asia-Pacific indexes were mixed. China’s CSI 300 rose 0.33% after the People’s Bank of China kept its benchmark lending rates steady, aligning with analyst expectations. Japan’s Nikkei 225 declined by 1.30%, while South Korea’s Kospi added 0.2%. Indian markets rose strongly, with the Nifty 50 up 1.32%. Markets in Australia and Hong Kong were closed for the Easter holiday.

Elsewhere, US crude oil futures fell over 1% while the US dollar continued to weaken, maintaining a downtrend in recent weeks. The 10-year Treasury yield edged slightly higher to 4.34%.

With input from CNBC and Investor’s Business Daily.