Wall Street Faces Significant Losses

Wall Street's major stock indexes experienced a sharp decline during the premarket session on Monday. Investors, still reeling from the recent AI race upheaval, were further impacted by the latest economic policy decision from United States President Donald Trump. The new tariffs, which came into effect over the weekend, have introduced a 25% levy on Mexico and Canada, and a 10% tariff on China.

As of 4:42 am ET, Dow Jones Industrial Average futures saw a significant drop of 1.35%, equating to 600 points. Similarly, Nasdaq 100 futures decreased by 1.78% or 380 points, and S&P 500 futures fell by 1.61%.

Currency Impact

The euro also felt the pressure, trading 1.26% lower against the dollar to sell for 1.02414 at 4:44 am ET.