Stock futures dropped sharply Sunday evening, continuing a turbulent stretch for global markets that many traders fear will worsen in coming days.

Over the weekend, traders hoping for positive developments tied to the tariffs found themselves disappointed. Commerce Secretary Howard Lutnick said on Sunday that the levies won’t be postponed, and many investors fear that more countries will retaliate against the U.S.

Futures tied to the S&P 500 sank 2.8%, while those tied to the tech-heavy Nasdaq slumped 3.6%. Their contracts pared their earlier respective declines of about 4% and 6%.