Futures point to losses for U.S. stocks when trading starts after big rally

Photo: AP Photo/Seth Wenig

A television displays financial news on the floor at the New York Stock Exchange in New York, Wednesday, April 9, 2025. 

The futures market is pointing to losses for U.S. stock markets when trading begins today.

Canadian and U.S. stock markets rallied on Wednesday to post big gains after U.S. President Donald Trump paused his so-called "reciprocal" tariffs for 90 days but kept in place a 10 per cent levy on nearly all global imports.

Trump also increased tariffs on Chinese imports to 125 per cent.

For its part, China has imposed an 84 per cent tariff on incoming U.S. goods.

The weakness in the futures market came as European and Asian markets climbed higher following the latest U.S. tariff changes, which came Wednesday afternoon.

Stock markets had been falling since Trump announced tariffs last week on countries around the world, raising concerns about a global recession.

This report by The Canadian Press was first published April 10, 2025.