Market Reaction to New Tariffs

On Monday, the US stock market experienced a significant downturn following 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, led to an early sell-off. Investors' concerns over potential inflation and the impact on economic growth were palpable, with analysts cautioning that prolonged tariffs could adversely affect corporate earnings and valuations.

Index Performance

By the close of trading, the Dow Jones Industrial Average had decreased by 0.27%, with Apple Inc. seeing a notable decline of 3.39%. The Nasdaq 100 fell by 0.84%, with PDD Holdings leading the losses, dropping by 5.92%. The S&P 500 also saw a decline of 0.76%, as Moderna Inc. decreased by 6.99%.

Currency Market Impact

In the currency markets, the euro experienced a downturn against the dollar, decreasing by 0.75% to $1.02963 by 3:58 pm ET.