Wall Street inched lower Friday as uncertainties brought by U.S. President Donald Trump’s latest tariffs lingered, threatening to upend markets’ bid for a positive week, according to the Associated Press. Futures for the S&P 500 lost 0.2%, while futures for the Dow Jones Industrial Average ticked down 0.1%. Nasdaq futures were off by 0.3%.
A winning week would give markets their first back-to-back weekly gains since January.
Shares of athletic wear retailer Lululemon skidded close to 12% in premarket trading after it issued guidance that did not meet analysts’ expectations. Another clothing retailer, Oxford Industries, also tumbled 12% before the bell. The owner of the Tommy Bahama brand beat Wall Street’s sales and profit targets but issued lukewarm guidance it said was negatively impacted by the new administration’s tariffs.
Stock markets worldwide will likely remain shaky as an April 2 deadline approaches for more tariffs. That’s what Trump has called “Liberation Day,” when he will roll out tariffs tailored to the United States’ trading partners. In each case, he said the “reciprocal” tariff will match the burden the other country places on the United States, including things like value-added taxes.
