Gold hits new record and stock futures tumble as Wall Street worries over Trump’s tariff price increases

Gold prices hit a record high as S&P 500 futures fell today , driven by investor concerns over President Trump’s tariffs, his legal battles against the Fed’s independence, and softening consumer spending. Most firms are passing tariff costs to consumers, but consumption growth remains weak, analysts say.

S&P 500 futures are down -0.51% this morning and futures on the Nasdaq 100 are down even more, -066%. Dow Jones futures were down -0.37%. The U.S. markets have had a three-day weekend so it’s difficult to say exactly why investors seem so skittish.

Top of the list of usual suspects is, of course, “uncertainty.” An appeals court threw out President Trump’s tariff plan last week, which the markets had finally priced-in after months of uncertainty. More uncertainty lies ahead as the U.