September S&P 500 E-Mini futures (ESU25) are down -0.93%, andSeptember Nasdaq 100 E-Mini futures (NQU25) are down -1.03% this morning as U.S. President Donald Trump’s sweeping import tariffs fueled concerns about the outlook for economic growth.

President Donald Trump said Wednesday that he plans to impose 100 percent tariffs on tens of billions of dollars of imported semiconductors used in consumer electronics and other products, but indicated he would not charge companies that commit to making chips in the U.