Market Reaction to Impending Tariffs

As the countdown begins for the implementation of President Donald Trump's tariffs on Mexico, Canada, and China, major US stock markets experienced a downturn. The Dow Jones Industrial Average fell by 0.75%, while the Nasdaq 100 and S&P 500 also saw declines of 0.14% and 0.51%, respectively.

Earnings Reports and Economic Indicators

Investors also had their eyes on the latest earnings reports from corporate giants Chevron, ExxonMobil, and Colgate-Palmolive. Additionally, the US personal spending report indicated a 0.7% increase in December, adding another layer to the complex economic landscape.

Currency Movements

In the currency markets, the euro experienced a slight decline against the dollar, trading at $1.03739 by late afternoon. This movement reflects the broader uncertainties and adjustments in the global financial markets ahead of the tariff implementation.