Wall Street Opens Lower Amid Tariff Concerns

Investors on Wall Street faced a cautious start to the trading day on Tuesday, as the markets opened in the red. The downturn comes in the wake of President Donald Trump's recent approval of tariffs on steel and aluminum imports, a move that has sparked widespread concern among investors and industry stakeholders alike.

Earnings Reports in the Spotlight

As the day progresses, all eyes are on the upcoming earnings reports from major players such as DoorDash, Lyft, and AIG, expected to be released after the market closes. Meanwhile, Coca-Cola has already shared its financial performance, revealing a 6% year-on-year revenue increase in the fourth quarter of fiscal 2024, reaching $11.5 billion.

Market Movements

By 9:32 am ET, the Dow Jones had fallen by 0.28%, with Amgen shares dropping 1.81%. The Nasdaq 100 wasn't spared, decreasing by 0.48%, as Marriott International saw a significant 3.54% drop at 9:31 am ET. The S&P 500 also declined by 0.30%, with Fidelity National Information Services experiencing a sharp 12.48% loss. On a brighter note, the euro gained 0.24% against the dollar, trading at 1.03305 at 9:29 am ET.