Dow Jones futures fell slightly Wednesday morning, along with S&P 500 futures and Nasdaq futures. The stock market rally suffered sharp losses Tuesday, with the Nasdaq diving in massive volume and S&P 500 falling back below a key level.

U.S. equity-index futures are sliding and the dollar is jumping after CNN said that President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a large swathe of universal tariffs on allies and adversaries.