Market Opens Lower Amid Tariff Concerns

As the trading day commenced, Wall Street witnessed a downturn, with major indices showing signs of distress. This market behavior comes in the wake of President Donald Trump's recent imposition of tariffs on steel and aluminum imports, a move that has investors on edge as they await further economic developments and earnings reports from key players.

Earnings Reports Awaited

Investors are particularly focused on the upcoming earnings reports from DoorDash, Lyft, and AIG, which are expected to be released after the market closes. Meanwhile, Coca-Cola has already shared its financial results, revealing a 6% increase in revenue for the fourth quarter of fiscal 2024, totaling $11.5 billion.

Index Performance

By 9:32 am ET, the Dow Jones had fallen by 0.28%, with Amgen experiencing a significant drop of 1.81%. The Nasdaq 100 wasn't spared either, decreasing by 0.48%, and Marriott International saw a sharp decline of 3.54% at 9:31 am ET. Similarly, the S&P 500 decreased by 0.30%, with Fidelity National Information Services leading the downturn with a 12.48% loss at the same time. In the currency market, the euro appreciated by 0.24% against the dollar, trading at 1.03305 at 9:29 am ET.