Futures tied to the S&P 500 slumped 2.2% during President Trump's Rose Garden ceremony announcing sweeping tariffs, with some investors saying trade restrictions could slow growth and increase inflation.

U.S. stock index futures tumbled on Thursday after President Donald Trump's sweeping tariffs on major trade partners heightened fears of an all-out trade war that could push the global economy into a recession.

The futures on the S&P/TSX index were up 0.06% at 6:40 a.m. ET (1040 GMT). Trump is set to announce "reciprocal tariffs" to bring U.S. tariffs to other countries' levels on Wednesday. He said on Sunday the levies will include all countries, but specific details were scant.

Gold price have risen from Wednesday’s record close, propelled by fears that Trump’s tariffs will continue to hammer stocks and expectations that central banks will continue to hoard the precious metal.

U.S. stock indexes finished higher after a choppy trading session on Wednesday, falling early and then rebounding as investors made last-minute bets to position themselves ahead of U.S. President Donald Trump's sweeping tariff announcements.

The A.I. prediction world is torn between optimism and gloom. A report released on Thursday decidedly lands on the side of gloom.

Kentucky Derby horses continue to come into focus with one month remaining until the Run for the Roses on Saturday, May 3. Last weekend was another milestone in the Road to the Kentucky Derby, as the Florida Derby and Arkansas Derby were run.

Get your circuit breakers ready. Heading into the open, Dow futures are now down 1,203 points, a decline of 2.8%. The other major contracts are worse: the S&P 500 contract is down 3.5%, the Nasdaq 100 contract is down 4% and the Russell 2000 is down nearly 5%.