Tariff Outlook Blunts Wall Street Pre-Bell; Asia, Europe Down

07:13 AM EDT, 04/07/2025 (MT Newswires) -- Wall Street futures faltered again pre-bell Monday, as traders weighed rising international import levies and routs on Asian and European equity exchanges.

In the futures, the S&P 500 fell 1.8%, the Nasdaq declined 1.9% and the Dow Jones was off 1.9%.

Asian exchanges traded sharply lower overnight, with Hong Kong's benchmark Hang Seng Index retreating by 13.2%. European bourses tracked solidly south midday on the continent.

Key US crude oil prices held just above $60 a barrel in morning action, the lowest since early 2021. Saudi Arabia announced oil price cuts over the weekend.

Ahead in the week, on Thursday the consumer price index (CPI) for March will be issued in Washington, perhaps providing clues to pending Federal Reserve monetary policies.

Financial behemoths JP Morgan Chase (JPM), Wells Fargo (WFC), BlackRock (BLK) and others are slated to report earnings on Friday.

On the Monday economic calendar is the consumer credit report for February, at 3 pm ET.

In premarket action, Bitcoin traded at $77,088, West Texas Intermediate crude oil traded lower at $60.14, and 10-year US Treasuries offered 3.99%. Spot gold traded for $3,033 an ounce.

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