Wall Street Futures Slide Amid Economic Uncertainties

Wall Street futures recorded losses on Friday, as investors grappled with growing uncertainties about the United States economy. The downturn comes in the wake of President Donald Trump's latest executive order, which has officially imposed a 10% global tariff rate, with duties on select countries soaring as high as 41%.

Economic Indicators and Upcoming Reports

Adding to the economic unease, the PCE inflation rate climbed to 2.6% in June. Today, the market awaits several key economic reports, including PMI releases, consumer confidence figures, and the highly anticipated nonfarm payrolls. Analysts are bracing for a slight uptick in the unemployment rate.

Market Performance

By 4:25 am ET, the Dow Jones futures had dropped 0.70%, or 308 points, while the Nasdaq 100 and the S&P 500 saw declines of 0.85% and 0.78%, respectively. Meanwhile, the euro remained steady against the dollar, trading at 1.14179 at 4:35 am ET.