Traders work on the floor of the New York Stock Exchange (NYSE) on February 13, 2026 in New York City.
Spencer Pratt | Getty Images
U.S. stock futures fell Sunday night after President Donald Trump announced he would raise tariffs worldwide from 10% to 15% after the Supreme Court struck down the president’s “reciprocal” tariffs. The new tariffs have increased market uncertainty about the outlook for inflation and global growth.
Dow Jones Industrial Average futures fell 300 points (0.6%). S&P 500 futures and Nasdaq 100 futures fell 0.7% and nearly 1%, respectively.
Oil prices fell, with Brent crude futures down 0.7% to $71.26 per barrel. U.S. crude oil futures fell 0.8% to $65.95 per barrel.
As cryptocurrencies continue to plummet, Bitcoin also fell, dropping 5% to below $65,000.
The moves come after President Trump said Saturday that he would increase tariffs worldwide to 15% from the 10% announced Friday. President Trump has said the tariffs will go into effect immediately, but it is unclear whether any official documents have been signed regarding the timing.
“As President of the United States, I will immediately begin increasing the 10% global tariff on countries, many of which have been ‘stripped’ from the United States for decades, without retaliation (until I came along!) to the fully authorized and legally verified level of 15%,” Trump wrote.
President Trump also warned that additional levies would be imposed in the coming months.
Wall Street is emerging from a volatile trading session. On Friday, after the Supreme Court struck down a wide range of President Trump’s trade policies, stocks initially rose, then fell back and eventually recovered again.
The Dow Jones Industrial Average closed up more than 230 points, or 0.5%, recovering from a 200-point drop in early trading. The S&P 500 rose 0.7% and the Nasdaq Composite rose 0.9%.
Investors are hoping the Supreme Court’s ruling could ease tensions between the U.S. and its trading partners and lead to refunds for companies affected by the tariffs, but they are awaiting further clarification from the White House.
“Wall Street and Main Street will be grappling with trade and tariff issues for some time to come,” Tim Holland, chief investment officer at Orion Wealth Management, said Friday.
Meanwhile, Iran remains a focus for investors. President Trump last week encouraged Iran to reach a deal over its nuclear program, warning that “bad things” could happen if it didn’t.
Trump is scheduled to deliver his State of the Union address to Congress on Tuesday.
Nvidia’s earnings will be a big focus this week. The semiconductor manufacturing giant is scheduled to announce results on Wednesday. The company is one of two Magnificent Seven stocks to make a profit this year. The company will have to reassure investors that its artificial intelligence investment strategy remains intact.
On the economic front, durable goods orders and factory orders statistics are scheduled to be released on Monday morning.
