Wall Street Reacts to Trade Tensions

In a dramatic premarket session, Wall Street's major stock indexes took a significant hit. The Dow Jones Industrial Average futures saw a sharp decline of 1.35%, equivalent to a 600-point drop. Similarly, Nasdaq 100 futures and S&P 500 futures weren't spared, with decreases of 1.78% and 1.61%, respectively.

The market's downturn comes in the wake of President Donald Trump's latest economic policy decision. Over the weekend, the United States imposed a 25% tariff on Mexico and Canada, alongside a 10% tariff on China, intensifying trade tensions.

Meanwhile, the euro took a hit against the dollar, trading 1.26% lower at 1.02414 by 4:44 am ET, reflecting the broader market unease.