Markets Tumble Ahead of 'Liberation Day'

It's shaping up to be another rough day for the stock market as investors brace for a new round of tariffs on Wednesday from President Trump—a day he has christened "Liberation Day."

• Dow futures fell more than 250 points early Monday, reports CNBC. Futures for the benchmark S&P 500 and the tech-focused Nasdaq were in worse shape, down about 1% or more each.
• How rough this week gets for the market will depend on the tariff details still being worked out. The Wall Street Journal reported Sunday night that Trump is encouraging his team to be aggressive, and the president himself told reporters he would hit "essentially all" US trading partners with some kind of tariff. One sticking point is whether the US will impose an across-the-board penalty or work out individual tariffs for nations.

• Markets in Asia, where the tariffs could hit especially hard, also fell on Monday, with Tokyo's benchmark index off more than 4%, per the AP. Markets in Europe also fell, though by lesser amounts.
• Auto stocks were lower on Monday, with Ford and GM down about 1%, and Stellantis down about 3% in premarket trading, per CNBC. That's in response to the 25% tariff on foreign vehicles about to take effect.

(Over the weekend, Trump said he "couldn't care less" if foreign automakers raise their prices because of the tariffs.)