#TrumpTariffs Futures Plunge, S&P 500 Points to Bear Market as Market Decline Worsens

U.S. stock index futures tumbled on Monday, with the S&P 500 appearing poised to confirm a bear market as investors rushed to government bonds amid economic concerns over the ramifications of President Donald Trump's radical tariff plans.

U.S. 10-year Treasury yields fell to 3.953%, with investors weighing the possibility of a fifth interest rate cut by the Federal Reserve this year.

S&P 500 futures plummeted more than 20% from their peak, suggesting that the benchmark index is in a bear market since February if it closes down 20% from its all-time highs.

Trump told reporters late Sunday that investors must brace for the consequences and that he would refrain from negotiating with China until the U.S. trade deficit is addressed.

In the two sessions following Trump's tariff decision, the index has plummeted 10.5%, wiping out nearly $5 trillion in market value, marking its most significant two-day loss since March 2020.