Live Updates: Stock Market Futures Open at 6 PM – Will the Nasdaq Composite Face a Black Monday?

On Thursday following Trump’s tariff announcement the S&P 500 fell 4.88%, almost identical to its drop the day the market opened after 9/11. Then Friday was even worse. Between the two days, the market dropped 10.5%. 

The Nasdaq Composite is now in a bear market, and the Russell 2000 is down nearly 25% from recent highs. 

So, you can see why the market is on edge as Futures Markets open in less than an hour at 6 p.m. ET. We will be updating this blog live with market reactions as futures open. 

Crypto Slides Before Futures Open 

One ominous sign before futures markets open at 6 p.m. ET is price action in crypto markets today. Bitcoin (CRYPTO: BTC) was trading at north of $82,600 shortly before noon, but began a massive nose dive that lasted until about 3 p.m. ET. Bitcoin is now trading for less than $79,000 per Bitcoin. Does the timing of this sell-off have anything to do with traders wanting to get out of crypto assets before market futures open?

Who Wants to Negotiate on Tariffs?

Friday’s sell-off was triggered by China playing a ‘Reverse’ Uno card and issuing 34% tariffs back on the United States. That action signaled that most countries would begin a trade war rather than attempting to negotiate with the Trump Administration. As you can imagine, a global trade war is worse for the global economy than alternative scenarios like negotiating free trade blocks. 

Trump officials said this weekend that over 50 countries have reached out wanting to negotiate. One notable country is Taiwan, which over the weekend said they’d prefer negotiations to punitive tariffs. If Trump were to announce some window of no reciprocal tariffs for negotiating countries we could see a major bounce in equity markets across the world. 

The post Live Updates: Stock Market Futures Open at 6 PM – Will the Nasdaq Composite Face a Black Monday? appeared first on 24/7 Wall St..