U.S. stock futures are tumbling after President Donald Trump laid out a series of tariffs on foreign trading partners that that were larger than some investors expected; Apple ( AAPL ), Nike ( NKE ), Walmart ( WMT ), and Dollar Tree ( DLTR ) shares are declining sharply in premarket trading in response; RH ( RH ) stock is plummeting after the home-furnishings retailer issued a weaker-than-expected outlook amid a struggling housing market; and Amazon ( AMZN ) and adtech firm AppLovin ( APP ) reportedly are bidding to buy TikTok ahead of a government deadline to ban the app in the U.S. Here's what investors need to know today.

1. US Stock Futures Plunge on Sweeping Trump Tariffs

U.S. stock futures are plunging after President Donald Trump announced a sweeping set of tariffs that raised worries among investors about rising prices and the impact on global trade. Nasdaq futures are down nearly 4% in early trading after the tech-heavy index rose 0.9% yesterday . S&P 500 and Dow Jones Industrial Average futures are roughly 3.3% and 2.7% lower, respectively. Bitcoin ( BTCUSD ) is trading at around $83,000 and crypto-related stocks are moving lower , including a 5% decline from Strategy ( MSTR ). The 10-year Treasury yield is dropping to around 4.05%, while gold futures are down 4% and oil futures are about 1% lower.

2. Trump Lays Out Tariffs Ranging from 10% to 50%, Hitting China, Japan, EU

President Trump announced reciprocal tariffs against a wide range of foreign countries , sending markets sharply lower as investors brace for larger-than-expected import taxes. The tariffs range from 10% to as high as 50%, according to a chart the White House posted on social media. Notably, Chinese products would be hit with an additional 34% tariff on top of a previously announced 20% duty, imports from the European Union (EU) at 20%, and goods from Japan at 24%. Each is slated to go into effect no later than 12:01 a.m. ET on April 9, according to an executive order.

3. Nike, Apple, Walmart Among Stocks Sinking on Tariffs News

Stocks associated with global trade tumbled on Trump's tariff announcements . Apple ( AAPL ), which manufactures about 90% of its products in China , are declining more than 7% in premarket trading. Shares of sneaker giant Nike ( NKE ) are sinking almost 10% as nearly all of its suppliers are in China, Vietnam, and Indonesia, which all got hit hard by import duties. Other retailers also dropped on the news, with Best Buy ( BBY ) and Dollar Tree ( DLTR ) shares falling by about 10%, and those of Target ( TGT ) and Walmart ( WMT ) down roughly 5%.

4. RH Stock Tumbles Amid Weak Outlook for Housing Market

Shares of RH ( RH ), formerly known as Restoration Hardware, are plunging nearly 30% in premarket trading after the home-furnishings retailer issued a weaker-than-expected outlook and said it's facing "the worst housing market in almost 50 years." The company said it expects revenue to grow 10% to 13% year-over-year in fiscal 2026, below Visible Alpha consensus. RH added it was facing a "higher risk business environment" due to uncertainty over tariffs. RH also reported fourth-quarter revenue and adjusted earnings per share (EPS) that fell short of analysts' expectations.

5. Amazon, AppLovin Bidding to Buy TikTok, Reports Say

Amazon ( AMZN ) and adtech firm AppLovin ( APP ) are reportedly bidding to buy TikTok ahead of a U.S. ban of the app set to go into effect Saturday if no deal is reached with the app's Chinese parent company. The New York Times reported that Amazon submitted a letter outlining its bid to Vice President JD Vance and Commerce Secretary Howard Lutnick. Meanwhile, The Wall Street Journal reported that AppLovin executives have met with former Wynn Resorts ( WYNN ) CEO Steve Wynn about possible financial backing. Shares of Amazon and AppLovin are down roughly 6% and 9%, respectively, in premarket trading.

Read the original article on Investopedia