Market Reacts to Trump's Tariff Announcement

On Monday, major US stock indexes closed lower following an early sell-off triggered by President Donald Trump's announcement of new tariffs. The decision to impose a 25% tariff on imports from Canada and Mexico, along with a 10% tariff on Chinese goods, has raised concerns over inflation and economic growth. Analysts warn that these sustained tariffs could negatively impact corporate earnings and valuations.

Indexes and Stocks Affected

By the close of trading, the Dow Jones had lost 0.27%, with Apple's shares declining by 3.39%. The Nasdaq 100 fell by 0.84%, with PDD Holdings leading the losses, decreasing by 5.92%. The S&P 500 also declined by 0.76%, as Moderna's shares dropped by 6.99%.

Currency Market Impact

In the currency market, the euro was down by 0.75% against the dollar at 3:58 pm ET, selling for $1.02963.