FX.co ★ US Futures Fall Further after GDP Data

On Wednesday, U.S. stock futures saw extended declines following an unexpected contraction in the economy for the first quarter, marking the first such instance since 2022. Specifically, futures for the S&P 500 decreased by 1%, with Nasdaq 100 futures dropping by 1.5%. Meanwhile, Dow Jones Industrial Average futures were down by 250 points. The Gross Domestic Product (GDP) contracted at an annualized rate of 0.3%, principally due to a rise in imports as businesses anticipated new tariffs, coupled with a downturn in consumer spending. This concerning data underscores the growing unease about the repercussions of President Trump's trade policies. Investor sentiment further dampened as additional companies withdrew their financial forecasts. Super Micro Computer saw an 18% drop in pre-market trading, coinciding with anticipated earnings reports from major players like Microsoft and Meta.