<ul data-eligibleForWebStory="false"><li>Stock futures dropped on Friday following President Trump's announcement of a 35% tariff on Canada and threats of higher tariffs.</li><li>Futures for Dow Jones fell 0.6%, S&P 500 index dropped 0.6%, and NASDAQ sank 0.5%.</li><li>Trump's tariff announcement cited fentanyl as a reason for higher Canada duties and mentioned potential blanket tariffs of 15% to 20% on other countries.</li><li>Nvidia and tech shares pulled back in premarket trading, while oil prices rose to $67.34 a barrel and gold prices strengthened to $3,358.20 an ounce.</li></ul>

Markets Set to Retreat from Records Amid Tariff Threats

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