U.S. stock futures slid early Monday as Wall Street prepares for another potentially turbulent week.
- S&P 500 futures dropped 0.79%
- Nasdaq-100 futures slipped 0.82%
- Dow Jones futures fell 318 points, or 0.81%
This comes after all three major indexes wrapped up their third losing week out of the past four. Despite a brief lift on Thursday, the S&P 500 still ended the week down 1.5%. The Dow and Nasdaq weren’t spared either, each losing more than 2% over the four-day trading period, shortened due to the Good Friday holiday.
One of Thursday’s biggest drags was UnitedHealth, which plunged over 22% after slashing its full-year forecast and posting weaker-than-expected earnings. Nvidia also hurt market sentiment, tumbling nearly 3% after a 7% drop the day before. The AI chip giant announced it would take a $5.5 billion charge due to new restrictions on exporting its H20 GPUs to China and other countries.
Adding to the uncertainty, concerns around former President Donald Trump’s tariff policies are mounting. Chicago Fed President Austan Goolsbee warned over the weekend that these could cause a summer slowdown, echoing earlier remarks from Fed Chair Jerome Powell about inflation risks tied to tariffs.
Still, some analysts say the worst of the market swings might be behind us. Horizon Investments’ Mike Dickson pointed out that while volatility remains, the extreme 10% daily and weekly moves may be easing. “Continued uncertainty will likely cap valuations,” he added, “but there are signs of stabilization.”
Investors now look ahead to a critical earnings week, with over 100 S&P 500 companies reporting—including big names like Alphabet, Tesla, and Boeing.
One major story to watch is Tesla and its CEO Elon Musk. With earnings due Tuesday, Wedbush analyst Dan Ives warned that Musk’s political involvement could further damage the brand. Tesla stock has already dropped more than 40% this year, amid declining vehicle deliveries, consumer protests, and growing brand concerns.
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Read more“This is a defining moment,” Ives said. “If Musk steps away from politics, Tesla can refocus. If not, the brand damage may worsen.”
Last Week’s Market Snapshot:
- S&P 500: -1.5% (14.07% below all-time high)
- Dow Jones: -2.66% (13.16% below all-time high)
- Nasdaq: -2.62% (19.39% below all-time high)
- Russell 2000: +1.1% (still 23.75% below its peak)
And as of Sunday evening, futures were already pointing to more downside:
- S&P 500 futures: -0.5%
- Nasdaq-100 futures: -0.5%
- Dow futures: -201 points (-0.5%)
Investors will be watching this week closely as earnings roll in and economic uncertainty lingers.
