Wall Street Witnesses Sharp Decline Amid Tariff Concerns

On Friday, Wall Street experienced a significant downturn, with the Dow Jones Industrial Average plunging more than 400 points. This sharp decline was fueled by growing concerns over potential reciprocal tariffs that the Trump administration might impose on trading partners, alongside the latest jobs report which revealed that the US added 143,000 nonfarm payrolls in January, falling short of analysts' expectations.

Market Indices Take a Hit

By 2:11 pm ET, the Dow Jones had slid 0.92%, or 410 points, while the Nasdaq 100 plummeted 1.21% by 2:13 pm ET. Similarly, the S&P 500 was down by 0.92% at the same time, indicating a widespread market retreat.

Euro Drops Against the Dollar

In currency markets, the euro lost 0.56% against the dollar, trading at 1.03314 by 2:17 pm ET, reflecting the broader market unease and the impact of the US's economic indicators on global currencies.