The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money. The stock market is still not cheap, even after Thursday's plunge, and that's a reason for investors to brace for more losses as the worst-case scenarios get baked into valuations in the coming weeks. To understand the market's fear of tariffs, it's important to know that earnings growth has historically been the No. 1 driver of stock market gains. The stock market is closed on Friday, April 18 in honor of Good Friday.

How much control does the president have over the Fed?

Meanwhile, markets are still keeping watch for signs of economic stress after stocks fell in the wake of a hotter-than-expected read on "core" PCE — the Federal Reserve's preferred measure of inflation. The March jobs report due on Friday is the data highlight of the week, with updates on private payrolls and job openings also on the docket. Here's the full rundown on how the holiday weekend will affect U.S. stock exchanges, the bond market and banks. As Yahoo Finance's Josh Schafer notes, the stock market remains largely at the mercy of Trump's tariffs. Different headlines and shifts in narratives have driven big market swings over the past several weeks, with all three indexes down since Trump's "Liberation Day" event. But signs of stress remain in markets beyond just stocks.

Tesla (TSLA), which slumped 5.75% on Monday, is scheduled to report earnings after the bell on Tuesday. Alphabet (GOOGL), which fell 2.31% on Monday, is expected to report earnings on Thursday. The yield on the 10-year Treasury rose above 4.4% on Monday, up from Thursday. US trading was closed Friday in observance of Good Friday.

The closure will give Wall Street a brief break after a turbulent week that saw the Dow plunge into the red Thursday, following UnitedHealth's annual profit forecast. Investors this week also rushed to sell off stocks after Fed Chair Jerome Powell on Wednesday warned that the Trump administration's tariffs could drive up inflation. The stock market will be closed on April 18 in observance of Good Friday. Analysts at Macquarie said in a Monday note that “flight from the USD” stems from “concerns over the Fed’s independence” and a lack of trade deal announcements, signaling that negotiations over tariffs might last many months. Powell on Wednesday said at an event in Chicago said Trump’s tariffs were unlike anything in modern history, with the potential to stoke inflation and drag on economic growth. The stark warning highlights that tariffs could complicate the Fed’s rate-cutting path.

Get the latest updates on pre-market movers, S&P 500, Nasdaq Composite and Dow Jones Industrial Average futures. By signing up to newsletters, you agree to our Terms of Use and acknowledge the Privacy Policy. CNN and its affiliates may use your email address to provide updates, ads, and offers. Sign up for CNN Business' nightly newsletter for the top stories you need to know. Like the Swiss Market Index (SMI), the Dow Jones is a price index. The shares included in it are weighted according to price; the index level represents the average of the shares included in it.

Dow Jones - Dow Jones 30 Index Dow Jones Live Quotes US Index

The religious holiday doesn't fall on the same date each year. That's because the date is based on the lunar calendar. Easter comes on the first Sunday after the first full moon following the spring equinox, which was on March 20. That means Easter could fall anywhere from March 22 to April 25. After taking a victory lap Wednesday, the president on Thursday acknowledged some “transition problems” could be expected. But since last week, the S&P 500 has lost nearly 700 points and the Dow is down more than 4,000 points.

Dow Jones 30

Goldman Sachs said earlier this year that for every 5-percentage-point increase in the tariff rate, investors could expect S&P 500 earnings to fall by 1% to 2%. After Trump's Rose Garden address, the US tariff rate stood at about 20%. Markets had surged earlier in the day, with the Dow opening on Tuesday 862 points higher than when markets closed on Monday.

Data is calculated to the nearest 1%, and updated automatically every 15 minutes. Stocks have sold off amid concerns about the economic impact of Trump's trade offensive, as uncertainty about its scope dampens market appetite for risk. Investors are now bracing for the broadest set yet of US tariffs, set to be unveiled on April 2 — described as “Liberation Day” by the president. Meanwhile, Trump isn’t backing off his alarming trade war with China — in fact, it’s getting worse. Goods coming from China to the United States are now subject to at least a 145% tariff, the White House clarified Thursday. The 125% “reciprocal” tariff Trump announced on China on Wednesday comes on top of the 20% tariff that had already been in place.

Undervalued Growth Stocks

"If sustained, this abrupt increase in tariffs and attendant uncertainty will significantly slow global growth," the IMF wrote. Europe’s benchmark STOXX 600 index was 3.7% higher Thursday. France’s CAC index was up 3.8% and Germany’s DAX jumped 4.5%, while London’s FTSE 100 index rose 3%. Japan’s benchmark Nikkei 225 index finished more than 9% higher, while South Korea’s Kospi index was up 6.6%. China says it remains willing to negotiate with the United dowmarkets States, but a spokesperson for the Chinese Commerce Ministry also reiterated Thursday that China will not back down if Trump chooses to further escalate the trade war. Traders were elated that Trump temporarily rescinded his so-called reciprocal tariffs, which aren’t really reciprocal, for 90 days.

• According to their calendars, the Nasdaq and the New York Stock Exchange are both closed on Friday, April 18, in observance of Good Friday.
• "The message from price action can be much more transparent than what you may read about in the financial press or see on television," LPL said.
• The markets steepened their plunge after President Donald Trump announced a broad set of tariffs.
• The shares included in it are weighted according to price; the index level represents the average of the shares included in it.

Will the stock market be open on Good Friday? What about Maundy Thursday? What to know

When stocks slump, investors usually seek out safe havens like US government bonds and the dollar. Yet investors are selling the dollar while other safe havens, like gold, are soaring. The dollar has broadly weakened this year in a potential sign of waning confidence in the US. Trump, who appointed Powell during his first term, has long bickered with the Fed chair over interest rates. The Fed’s independence from politics is a hallmark of the central bank, and analysts overwhelmingly expect markets to react negatively to an attempt to fire Powell. Trump’s attack on the Fed’s independence has also raised concerns that investors might lose confidence in the stability of US markets.

• Prices had fallen dramatically below $57 a barrel Wednesday before recovering.
• The stock market will be closed on April 18 in observance of Good Friday.
• Like the Swiss Market Index (SMI), the Dow Jones is a price index.
• The president had previously suggested that he was unwilling to negotiate.

Goldman Sachs said Wednesday after Trump’s partial detente that recession chances in the United States were still a coin flip. The US dollar index, which measures the dollar’s strength against six foreign currencies, tumbled 1.7% Thursday, hitting its lowest level since early October. The dollar has broadly weakened this year, a sign of investors’ concern about the health and stability of the US economy.

More than 100 S&P 500 companies are set to report earnings as the market looks to find footing. Nvidia and other chip stocks fell as Huawei is reportedly boosting production of its leading AI chips following Trump's new export rules. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority. The percentage of IG client accounts with positions in this market that are currently long or short.

Some billionaire investors, who have been pressuring Trump to back off his punishing tariffs, were elated that the president hit pause. On Tuesday President Trump announced the U.S. would commit to a total 104% tariff on imports from China, starting at midnight on Wednesday. According to their calendars, the Nasdaq and the New York Stock Exchange are both closed on Friday, April 18, in observance of Good Friday. The bond market is also off today after closing early yesterday at 2 p.m. EST, as indicated by the Securities Industry and Financial Markets Association holiday schedule. “Tariffs will remain top of mind over the coming few months, yet investors are likely to refocus their short-term attention on the Q earnings reporting period,” said CFRA Research’s Stovall in a Monday note.