Over the weekend, U.S. stock futures dropped significantly, reflecting concerns about the Trump administration's determination to proceed with imposing tariffs despite no indications of easing from that stance. The futures tied to the Dow Jones Industrial Average suggested a potential decline of over 1,300 points at the start of trading on Monday, with futures linked to the S&P 500 and Nasdaq showing declines of 4% and 5%, respectively.

Following a turbulent week triggered by President Trump's announcement of extensive tariffs on U.S. trading partners, the major stock indexes experienced their most substantial losses since the early days of the pandemic in March 2020. The S&P 500 fell by 10.5% over the last two days of the week, while the Dow lost nearly 1,400 points.

Despite no hints of a retreat on tariffs by White House officials, the administration's plan to impose reciprocal tariffs on imports from the European Union, Japan, and China remains on track to come into effect soon. These measures, along with potential additional sector-specific tariffs, are considered necessary to rebalance trade relationships and revitalize manufacturing and employment in the U.S. However, the rapid imposition and severity of these policies have raised concerns among economists and investors about the possibility of an economic downturn, especially with the risk of retaliatory measures from affected countries like China.

Federal Reserve Chair Jerome Powell expressed his unease over the impact of the tariffs, warning that they could lead to increased inflation and hinder economic growth. The Fed is closely monitoring the situation and will assess the need for adjustments to interest rates as more information becomes available.

In parallel with the stock market decline, Bitcoin also saw a sharp drop as investors turned away from risky assets. The digital currency's value fell to $78,300, its lowest level since November, after briefly rising to nearly $84,000 earlier on Sunday.

Amid fears of weakening global demand, crude oil prices also plunged, with West Texas Intermediate futures hitting $59.80 per barrel, the lowest level since the previous April.