Wall Street pointed lower in premarket trading Thursday after President Donald Trump announced he will impose 25% tariffs on imported cars, the Associated Press reports. Futures for the S&P 500 were down 0.2% before the bell Thursday, while futures for the Dow Jones Industrial Average were flat. Nasdaq futures dipped 0.4%.
In premarket trading, shares of General Motors Co. sank 6.8%, while Ford Motor Co. narrowed its losses to less than 1% after being down more than 3% overnight.
Petco jumped 9% after the pet store chain beat analysts’ fourth-quarter sales and profit projections. Investors bought up the retailer’s shares even as the company projected another sales decline this year.
