Stocks nosedived for the second straight day on Friday as fears grow that an escalating global trade war will cut into corporate profits and stall economic growth.

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures, after Trump tariffs trigger the major indexes' worst week since the March 2020 Covid crash.The stock market suffered a meltdown this past week,

US equity futures are pointing towards more pain ahead on Wall Street after Thursday's rout wiped out over $2.5 trillion in market capitalisation. The Dow futures are currently trading 420 points lower,

US stocks opened sharply lower Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war.

The Dow, S&P 500 and Nasdaq are under pressure for a second day as global investors sell equities in response to President Trump’s sweeping tariffs against the majority of U.S. trading partners, including China who is retaliating.

The Dow Jones got dragged into the depths on Friday, plummeting nearly 2,000 points. It’s the single worst day for equities since the pandemic selloff as the US kicks off a global trade war. China has announced its own retaliatory tariffs on the US, causing markets to brush off NFP.

The Dow Jones Industrial Average gained 415, or 1.1%, while the S &P 500 climbed 0.5%. The tech-heavy Nasdaq ticked down 0.1%. Tesla, the electric carmaker led by billionaire Trump-advisor Elon Musk, dropped 1.5%.

The global markets and economy continue to be in turmoil over the imposition of tariffs by US President Donald Trump

Global markets were in a freefall as Trump's 10 per cent tariffs took effect, leading the worst drop in Dow Jones, Nasdaq stock market index since pandemic.