Earnings Reports and Tariff Worries Hit US Stock Market

As major corporations continue to unveil their earnings reports, the US stock market experienced a downturn in premarket trading on Wednesday. Notably, Alphabet's Class A stock saw a significant drop of over 7% following the release of its fourth-quarter figures, which failed to meet expectations.

Investor Concerns Over Potential EU Response to US Tariffs

Investors are also closely watching the developments between the Trump administration and international reactions. Speculations are rife that the European Union might target US tech firms in retaliation if the US imposes tariffs on EU exports, adding to the market's unease.

Market Performance and Currency Movements

By 4:30 am ET, the Dow Jones had fallen by 0.25%, the Nasdaq 100 by 0.95%, and the S&P 500 by 0.60%. Concurrently, the euro saw a slight increase of 0.24% against the dollar, trading at 1.04115 at 4:31 am ET.