U.S. Stock Futures Plunge on Trump Tariff Concerns

Group 1 - Pre-market futures are down significantly as President Trump intensifies his trade war rhetoric, creating uncertainty for investors [1] - The Dow is down -560 points (-1.3%), S&P 500 down -90 points (-1.5%), Nasdaq down -400 points (-1.9%), and Russell 2000 down -45 points (-2.1%) [2] - Apple (AAPL) faces potential +25% tariffs on iPhones made overseas, contributing to a -3.5% drop in its stock, adding to a -19% loss year to date [3] - President Trump proposes a +50% tariff on imports from the European Union, which currently has a $160 billion trade surplus with the U.S. [4] Group 2 - New Home Sales for April are expected to decline to +695K from +724K in March, with the South seeing the most activity and the Northeast down -22% [6] - The average 30-year fixed mortgage rate in April was +6.88% [6]