US stock futures extended some of Thursday's losses, as Wall Street gets ready to wrap up another week of tariff-fueled turmoil.
Futures tied to the S&P 500 ( ES=F ) were down 0.4%, while those on the tech-heavy Nasdaq ( NQ=F) were off 0.5%. Dow Jones Industrial Average futures ( YM=F ) slipped 0.2%.
The major stock indexes are reeling from whiplash toward the end of another week roiled by President Trump's fast-moving tariff policy , after pulling off historic gains during Wednesday's session followed by subsequent plunges on Thursday . The S&P 500 ( ^GSPC ) has seen six consecutive sessions of extreme volatility, moving at a range of more than 5% back and forth in each of them.
Thursday's session showed that the initial optimism from Trump's 90-day "pause" on reciprocal tariffs for most trade partners had given way to concern about his escalation with China.
On Thursday, the White House provided Wall Street with another stunner: Tariffs on Chinese imports were actually increased to 145%, not the 125% that Trump had originally suggested when he announced the broad pause.
Stocks were routed , with the latest ballooning levies on China serving as a downward catalyst in the middle of the session. The Dow ( ^DJI ) gave up nearly half of the gains it accrued in Wednesday's high-flying session, and the Nasdaq Composite ( ^IXIC ) closing down over 5% for the second time in the last five sessions.
Despite that, the major indexes are positioned for their best week in months, largely on the back of their mid-week surge. That, of course, could all be upended by whatever Friday has to bring to the discussion.
Read more: Live updates on Trump tariffs fallout
Investors on Friday will get another piece of the pre-tariff inflation puzzle on Friday with the release of the Producer Price Index, coming after March's unusually overshadowed Consumer Price Index showed inflation pressures eased last month.
Also, first-quarter earnings season begins in earnest Friday as big banks report results, including JPMorgan ( JPM ), Wells Fargo ( WFC ), and Morgan Stanley ( MS ). Those earnings will be closely studied for any broad signs of consumer fallout amid the tariff turmoil.