U.S. stock index futures declined on Friday as China raised tariffs on U.S. imports to 125%, intensifying trade tensions. In response, U.S. President Donald Trump hiked tariffs to 145% on China, while granting a 90-day tariff pause for most trading partners.

The market has been volatile in reaction to tariff changes. After a four-day decline, stocks rebounded on Wednesday with the S&P 500 recording its biggest one-day jump since October 2008. However, stocks dropped again on Thursday, resulting in a 7% decline from the previous week's levels following Trump's tariff announcements.

Despite the fluctuations, all three indexes are poised for significant weekly gains, with the Nasdaq on track for its best weekly performance of the year. In early trading, Dow E-minis were down 108 points, S&P 500 E-minis were down 14.75 points, and Nasdaq 100 E-minis were down 54 points.

During premarket trading, many mega-cap and growth stocks experienced slight declines, with Tesla showing a 1.9% drop. Later in the day, U.S. quarterly earnings reports from major banks like JPMorgan Chase & Co, Morgan Stanley, Wells Fargo & Co, and BlackRock are scheduled before the market opens.