(Sharecast News) - Wall Street futures were firmly in the red on Thursday following the previous session's impressive tariff pause-driven gains.
As of 1230 BST, Dow Jones futures were 1.29% weaker, while S&P 500 and Nasdaq-100 futures had the indices opening 1.74% and 2.09% lower, respectively.
The Dow closed a whopping 2,962.86 points higher on Wednesday as Donald Trump announced a 90-day pause on his so-called "reciprocal" tariffs.
Thursday's pre-market losses come hot on the heels of yesterday's surge, with the Dow Jones delivering its biggest percentage increase since March 2020 and the S&P 500 turning in its third-largest single-day gain since World War II.
When asked why he chose to pause the tariffs, Trump said he thought people were "jumping a little bit out of line" and had gotten" a little bit yippy, a little bit afraid".
While the president did choose to halt his tariffs until July, Trump also moved to up the tariff rate on Chinese-made goods from 104% to 125%, effective immediately, but stated Beijing and Washington were close to making a "very good deal".
On the macro front, March's consumer price index will be published at 1330 BST, as will weekly jobless claims, while the Federal Government's monthly budget statement will follow at 1900 BST.
In the corporate space, companies with significant exposure to China, such as Tesla and Apple, were both lower in pre-market trading.
Reporting by Iain Gilbert at Sharecast.com