Stock Market Reacts to Earnings and Tariff Worries

As the US stock market opened on Wednesday, it faced a downturn in the premarket, influenced by the ongoing release of earnings reports from major companies. Notably, Alphabet's Class A stock experienced a significant drop of over 7% before the session began, following a fourth-quarter revenue report that missed estimates.

Investors are also closely watching the developments around the Trump administration's policies, especially in light of reports suggesting the European Union might target US tech firms in response to potential tariffs on its exports by Washington.

Market Performance and Currency Fluctuations

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%. Meanwhile, the euro saw a slight increase of 0.24% against the dollar, trading at 1.04115 at 4:31 am ET.