Market Jitters as Investors Eye Tariffs and Economic Reports

U.S. markets brace for a downturn amid concerns over President Trump's tariffs legality and significant economic reports. A court ruling has challenged the legality of tariffs, potentially impacting market yields. Investors await key economic data, with interest rates cuts anticipated and significant market movements expected.

U.S. stock index futures indicated a downward trend on Tuesday morning, as investors expressed concerns about the legality of President Donald Trump's tariffs and prepared for upcoming crucial economic reports.

A U.S. appeals court, deeply divided, recently deemed most of Trump's tariffs illegal, posing a potential threat to his administration's international economic policies. However, the tariffs continue to be enforced until October 14, giving the administration an opportunity to appeal at the Supreme Court.

Market volatility persists as yields on U.S. Treasuries reached monthly highs, impacting equities. Anticipation builds around Friday's key employment report, amidst expectations of an interest rate cut by the Federal Reserve later this month.

(With inputs from agencies.)