Global Markets Mixed: US Futures Drop, UK Stocks Surge

a sharp reversal on Thursday, April 10, 2025, as investors reassessed the longer-term risks of U.S. trade policies. While U.S. stock futures dropped significantly, the UK’s FTSE 100 surged, poised for its best single-day performance in four years.

Markets remain jittery despite President Donald Trump’s surprise 90-day pause on a portion of his aggressive tariff plans. A pullback in oil prices and continued weakness in the U.S. dollar are flashing cautionary signals about the underlying economic damage from the ongoing trade war.

US Futures Slide After Wednesday's Record-Breaking Rally

After Wednesday’s near 10% surge in the S&P 500, futures are showing a dramatic turn:

• S&P 500 futures: -1.5% 
• Dow Jones futures: -1.5% 
• Nasdaq futures: -2.3% 

Tech giants led the decline, with Apple and Tesla both dropping over 3% in premarket trading. Investors are shifting from euphoria to uncertainty, concerned about recession risks, inflation pressure, and debt sustainability.

🔗 S&P 500 Index Tracker – MarketWatch

🔗 Nasdaq Futures Live – Investing.com

Wednesday’s Rally Was One for the Record Books

Wednesday saw Wall Street post one of its best sessions since WWII:

• S&P 500: +9%  Third-largest single-day gain in postwar history 
• Dow Jones: Best daily percentage gain since March 2020 
• Nasdaq Composite: Second-best day since 2001, up over 10% 

The rally was driven by Trump’s tariff pause, easing investor panic over the escalating trade war. But analysts now warn that short-term relief might not offset long-term economic concerns.

Commodities and Currencies: A Flight to Safety

The U.S. dollar fell for the third consecutive session, signaling reduced confidence in U.S. assets:

• DXY Index: Down 0.8% 
• Brent Crude: Fell below $64 per barrel 
• Gold prices: Up 1.3%, moving closer to $3,300/oz 
• Swiss franc and yen: Gained as safe-haven demand increased 

🔗 US Dollar Index DXY – Yahoo Finance
🔗 Live Gold Price – Kitco

UK’s FTSE 100: Best Day Since 2020

Across the Atlantic, the UK market had a very different reaction. The FTSE 100 jumped 4.5%, headed for its biggest one-day gain since November 2020. The FTSE 250 surged 4.7%, notching its best day in over two years.

The rebound comes after Trump’s dramatic policy pivot, which paused many of the tariffs that had just gone into effect 24 hours prior. This surprise U-turn has brought some immediate relief to rattled European investors.

🔗 FTSE 100 Index – London Stock Exchange

Bond Market Eyes 30-Year Treasury Auction

While equities rallied earlier this week, investors are now closely watching the U.S. bond market. A major auction of 30-year Treasury bonds is underway, and traders are keen to see if demand holds up amid growing fears over:

• Ballooning U.S. debt 
• Tariff-induced inflation 
• Investor confidence in long-term U.S. assets 

Any signs of weak demand could lead to higher yields and a broader sell-off in long-duration bonds.

🔗 US Treasury Auction Calendar – Treasury.gov

What’s Next for Global Markets?

The massive rally may have been overdone, and the current correction shows just how sensitive markets are to news on trade, policy, and central bank action.

• Trump’s tariffs are paused, but not canceled 
• Energy prices are declining-signaling cooling global demand 
• U.S. dollar weakness suggests capital flight and confidence issues 

Analysts now expect continued volatility, with markets likely swinging between short-term relief rallies and deeper structural fears.

Final Thoughts

Markets may have cheered Trump’s tariff pause, but investors aren’t letting their guard down. The selloff in futures, coupled with the dollar’s weakness and commodity softness, point to lingering anxiety.

As the U.K. celebrates a rare equity surge, Wall Street must navigate the real cost of uncertainty.

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