Global markets today: Dow futures drop 1.5%, Nasdaq futures down 2.3%; UK’s FTSE 100 set for biggest gain in 4 years | Stock Market News

Stock futures fell on Thursday after a massive rally on Wall Street spurred by President Donald Trump announcing a 90-day reprieve on some of his “reciprocal” tariffs.

Dow Jones Industrial Average futures

lost 579 points, or 1.4%. Futures tied to the S&P 500 fell 1.8%, while Nasdaq-100 futures

Leading the declines were Apple and Tesla, which pulled back more than 3% each in the premarket.

The moves come after a historic surge on the Street, where the S&P 500

soared more than 9% for its third-largest gain in a single day since World War II. The Dow Jones Industrial Average

also saw its biggest percentage advance since March 2020, while the Nasdaq Composite

scored its biggest one-day gain since January 2001 and second-best day on record.

During Wednesday’s session, there was an unusual trading volume of around 30 billion shares, the highest level in history, as per records dating back 18 years.

UK shares rose on Thursday in broad-based gains after U.S. President Donald Trump announced an immediate 90-day pause on many tariffs, bringing relief to investors following the recent global market rout.

As of 1015 GMT, the blue-chip FTSE 100 rose 4.5%, on pace to post biggest one-day jump since November 2020.

The midcap FTSE 250 index climbed 4.7%, poised for its biggest single-day advance since March 2022.

In the dramatic policy shift on Wednesday, Trump suspended most of the hefty tariffs less than 24 hours after they kicked in, providing relief to rattled global markets.

However, he simultaneously escalated the trade conflict with China by raising tariffs on Chinese imports to 125% from 104%, which had only taken effect on Wednesday.