RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Add as a preferred source on Google
U.S. stock index futures declined on Sunday evening as renewed trade tensions and geopolitical concerns rattled investor sentiment. President Donald Trump announced a hike in steel import tariffs from 25% to 50%, effective June 4, reigniting fears of a prolonged trade war. The move, accompanied by accusations that China violated a recent tariff rollback agreement, sent a warning to markets that higher trade barriers are likely to remain.
S&P 500 futures fell 0.3% to 5,899.25, Nasdaq 100 futures dropped 0.3% to 21,307.25, and Dow Jones futures slipped 0.3% to 42,170.00 as of 23:23 GMT. The retreat follows strong May gains, driven by hopes of easing trade tensions, particularly a temporary deal with China. However, fresh comments from the Trump administration, including Commerce Secretary Howard Lutnick stating that tariffs are “here to stay,” suggest that progress has stalled.
Adding to the pressure, markets are bracing for key U.S. economic data on Monday, including manufacturing PMI readings from S&P Global and ISM, as well as a closely watched speech by Federal Reserve Chair Jerome Powell. Investors are looking for guidance on inflation trends and future interest rate moves after recent PCE data showed modest cooling.
Meanwhile, geopolitical risks are rising. Reports of a possible terrorist attack at a rally in Boulder, Colorado, and intensifying conflict between Russia and Ukraine have dampened risk appetite ahead of expected peace talks.
On Friday, Wall Street ended the month mixed. The S&P 500 finished flat but posted a 6% gain for May. The Dow Jones also closed unchanged, ending the month up 3.9%, while the Nasdaq Composite slipped 0.3% but gained 2% in May.
