Market Reacts to Trump's Tariff Announcement

In a move that has sent shockwaves through the global markets, President Donald Trump has announced new tariffs on imports from Mexico, Canada, and China. This decision has led to a significant downturn in US stock indexes at the start of Monday's trading session.

The Dow Jones Industrial Average saw a sharp decline, dropping 1.22% or 550 points at the open. Nvidia Corporation was among the hardest hit, with shares slipping 4.82%. The Nasdaq 100 and S&P 500 also experienced losses, with MicroStrategy Inc. and Aptiv PLC seeing significant drops in their stock prices.

Global Trade War Concerns Rise

President Trump's announcement has raised concerns over a potential global trade war, especially with his statement that tariffs on imports from the European Union are 'definitely' forthcoming. This has added to the market's volatility as investors and businesses alike brace for the possible impacts of these new tariffs.

In the currency markets, the euro fell 1.10% against the dollar, trading at $1.02597 at 9:28 am ET. Meanwhile, all eyes are on Palantir Technologies Inc., which is set to release its quarterly financial results after the closing bell, as investors seek signs of stability in these turbulent times.