Stock Futures Fall After S&P Streak Ends

Stock futures took a header Tuesday, as investors awaited the start of the Federal Reserve’s first policy meeting since President Donald Trump announced “reciprocal” tariffs in early April. Futures for the Dow Jones Industrials lost 255 points, or 0.6% to 41,064.Futures for the S&P 500 index slipped 43 points, or 0.8%, to 5,628.75 Futures for the NASDAQ jettisoned 203 points, or 1%, to 19,852.50 During Monday’s session, the S&P 500 fell 0.6% to snap its nine-day rally — its longest winning streak since 2004. The tech-heavy NASDAQ Composite dropped 0.7%, while the Dow slipped 0.2%. Tariff uncertainty continues to weigh on the markets. Trump is scheduled for meetings with Prime Minister Mark Carney on Tuesday, marking the start of negotiations between the two leaders since Carney assumed office in March.Investors are now keeping a close eye on the Fed’s two-day policy meeting set to kick off on Tuesday, followed by an announcement on rates Wednesday afternoon. Although fed funds futures trading suggests just a 2.7% chance of the central bank cutting rates, traders will be listening for Fed Chair Jerome Powell’s comments on his economic outlook.In individual stocks, Doordash announced a $1.2-billion SevenRooms deal, after missing revenue expectations. In Hong Kong, the Hang Seng gained 0.7%, while markets in Japan were closed Tuesday for holiday. Oil prices took on $1.34 to $58.47 U.S. a barrel. Gold prices jumped $61.90 to $3,384.20 U.S. an ounce.