Pre-Market Report – Monday 7 April: US markets fall hard | Gold and oil fall, China reopens

Wall St had a second major sell-off overnight as portfolio liquidations increased and China responded to US tariffs. A significant escalation in the trade war. Dow Jones down 2231 points, closing on the low again. S&P 500 down 6% and the Nasdaq down 5.8%. Retaliatory measures from China included 34% of additional tariffs, rare earth export controls and adding 11 US companies to a ‘unreliable entity’ list. Concerns that other countries will follow this precedent soured market sentiment further. All sectors lower, Energy and Financials the worst.For the week, Dow Jones down 3269 points. S&P 500 down 9.1% and the Nasdaq down 10%. Biggest falls since Covid for all three major indices. The ASX 200 was down 3.9% for the week.The non-farm payroll release was lost in the tariff dominated headlines. 228k jobs added beat estimates of a 135k increase. It’s still a pre-tariff economic number and recession fears outweighed any positive impact.SPI down 331 - US Futures in Sunday trading down another 5% - Trump administration doubles downWant to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.