U.S. stock index futures fell on Monday evening, extending losses from a sharp fall on Wall Street as President Donald Trump’s fresh attack on Federal Reserve Chair Jerome Powell battered sentiment. 

Investors remained on edge amid uncertainty over Trump’s plans for steep trade tariffs, even as his administration flagged several trade agreements.

Markets were also testy before a string of key technology earnings due this week, with electric car-maker Tesla (NASDAQ:TSLA) set to report on Tuesday. 

S&P 500 Futures fell slightly to 5,183.25 points, while Nasdaq 100 Futures fell 0.1% to 17,904.0 points by 19:11 ET (23:11 GMT). Dow Jones Futures edged lower to 38,20.0 points. 

Trump’s Powell comments, tariff uncertainty rattle Wall St

Futures fell following a deeply negative session on Wall Street, as Trump kept up his criticism of Powell and called for “preemptive” interest rate cuts, warning that the economy would slow otherwise.

Trump also kept up his harsh rhetoric against Powell, after having earlier called for the Fed Chair’s removal, sparking concerns over the Fed’s independence under Trump. Powell’s term ends only in May 2026, and it is unclear if Trump will be able to remove the Fed Chair before this. 

Powell had last week warned that Trump’s tariffs could underpin inflation, and that the Fed will stay its hand until it has more clarity on the tariffs and their impact. 

Trump’s comments on interest rates, coupled with persistent uncertainty over his tariff agenda, saw Wall Street end sharply lower on Monday. The S&P 500 fell 2.4% to 5,158.20 points, while the NASDAQ Composite slid 2.6% to 15,870.90 points. The Dow Jones Industrial Average fell 2.5% to 38,170.41 points.