India, April 10 -- The major U.S. index futures are currently pointing to a sharply lower open on Thursday, with stocks likely to give back ground following the historic rally seen over the course of the previous session.
Traders may look to cash in on the spike seen in afternoon trading on Wednesday after President Donald Trump announced a 90-day pause on new "reciprocal tariffs."
Ongoing concerns about rising trade tensions between the U.S. and China may weigh on the markets, as Trump excluded the country out of the pause and even raised the tariff on Chinese goods to 125 percent.
Uncertainty about what will happen between now and the end of the 90-day pause may also lead to some apprehension on Wall Street.
"While the 90-day pause is...