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Dow Jones: Trump Tariff Plan Hits Ford, GM, Stellantis as Stock Market Slides

By:
James Hyerczyk
Updated: Mar 31, 2025, 14:53 GMT+00:00

Key Points:

  • Dow futures dropped 326 points as Trump’s 25% auto tariff plans trigger fresh fears across US stock markets.
  • Trump’s “Liberation Day” tariff rollout spurs concern over a broader trade war and economic growth risks.
  • Stellantis fell nearly 3%, while Ford and GM dropped 1% as investors reacted to aggressive tariff rhetoric.
Nasdaq 100 Index, S&P 500 Index, Dow Jones
In this article:

Dow Futures Slide Over 300 Points as Wall Street Eyes Trump’s Tariff Rollout

U.S. stock futures fell sharply Monday, as investor anxiety grew ahead of a new wave of tariffs set to be enacted by former President Donald Trump.

With “Liberation Day” scheduled for Wednesday, markets braced for the impact of a sweeping 25% levy on foreign-made cars and additional reciprocal tariffs.

Dow futures dropped 326 points, or 0.7%, while futures tied to the S&P 500 and Nasdaq-100 fell 1.1% and 1.5%, respectively, marking a continuation of the market’s risk-off tone.

Daily E-mini Dow Jones Industrial Average

What’s driving investor concern over tariffs?

Tariff uncertainty is front and center, as traders digest Trump’s plan to enforce duties on all non-U.S. manufactured vehicles and target countries with existing import levies on American goods.

Daily Stellantis. N.V.

The auto sector led losses in early trading, with Stellantis shedding nearly 3% and both Ford and General Motors slipping about 1% each in premarket action. Over the weekend, Trump dismissed concerns about rising car prices, reinforcing fears that the administration is adopting an aggressive protectionist stance.

According to The Wall Street Journal, Trump has recently pushed advisors to expand the scope of tariffs, increasing anxiety about global trade relations and their implications for U.S. economic growth.

How are stocks and sectors reacting at the end of a volatile quarter?

The tariff overhang adds to what has already been a difficult March for equities. The S&P 500 dipped into correction territory earlier in the month and remains 9.2% below its February peak. It’s down more than 6% in March, on pace for its worst month since September 2022.

Daily NVIDIA Corporation

The Nasdaq has dropped 8% this month, weighed down by heavy selling in technology leaders like Nvidia, Tesla, and Meta, while the Dow is down 5.2%.

On a quarterly basis, the S&P 500 is off 5.1%, which would snap a five-quarter winning streak. The Nasdaq is down 10.3%, potentially marking its steepest quarterly drop since Q2 2022, while the Dow has declined 2.3%.

What should traders watch for this week?

All eyes now turn to the March jobs report due Friday, April 4, which could offer key insight into labor market resilience and inflation pressures. The tariff rollout on Wednesday could also spark renewed volatility, especially if details remain vague or suggest an extended negotiation period.

Barclays strategist Emmanuel Cau noted that although tariff risks are partly priced in, the broader implications for global growth and U.S. consumer prices remain unresolved.

With trade tensions flaring and a heavy data calendar ahead, market participants should prepare for continued volatility and closely monitor economic indicators that could influence the Federal Reserve’s policy stance.

More Information in our Economic Calendar.

About the Author

James Hyerczyk is a U.S. based seasoned technical analyst and educator with over 40 years of experience in market analysis and trading, specializing in chart patterns and price movement. He is the author of two books on technical analysis and has a background in both futures and stock markets.

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