Market Reaction to New Tariffs

Major US stock indexes experienced a sharp decline at the start of Monday's trading session. This downturn followed President Donald Trump's announcement of imposing a 25% tariff on Mexico and Canada, and a 10% tariff on China. Additionally, Trump hinted at future tariffs on imports from the European Union, sparking fears of a global trade war.

Impact on Key Players

The Dow Jones Industrial Average fell by 1.22%, or 550 points, with Nvidia Corporation dropping 4.82%. The Nasdaq 100 saw a 1.88% decrease, highlighted by a 5.61% plunge in MicroStrategy Inc. shares. The S&P 500 wasn't spared either, losing 1.65%, with Aptiv PLC experiencing a significant 8.90% drop.

Currency Movements

In currency markets, the euro weakened by 1.10% against the dollar, trading at $1.02597 at 9:28 am ET.

Looking Ahead

Investors are now turning their attention to Palantir Technologies Inc., which is scheduled to release its quarterly financial results after the market closes, potentially offering further insights into the tech sector's health amidst these challenging times.