Market Reacts to Trade Data

Following the release of underwhelming trade data that highlighted an increase in the US trade deficit, the Nasdaq 100 experienced a significant 2% drop on Friday. This event has sent ripples across the market, with major indexes showing signs of distress.

Indexes in the Red

The Dow Jones was not spared, trading in red territory with a 0.75% drop by 10:24 am ET. Nvidia Corporation was among the companies hit hard, seeing a 3.08% decline. Similarly, the Nasdaq 100 and the S&P 500 weren't far behind, losing 1.84% and 1.22% respectively. Tesla Inc. led the losses on both indexes with a 4.93% decline.

Currency Movements

On the currency front, the euro remained stable against the dollar, trading at 1.04226 at 10:25 am ET, indicating a cautious stance from investors amidst the market turmoil.