US Stock Markets React to Trade War Developments

In a significant downturn, major US stock market indexes closed lower on Thursday. This decline comes as discussions around the tariffs imposed by the United States, particularly on China, continue to stir concerns about the future of trade, especially within the chip sector. Amidst these tensions, Microsoft Corporation has called on the Trump administration to reconsider some of the restrictions hindering the development of this crucial industry.

Market Leaders Take a Hit

The Dow Jones Industrial Average saw a decrease of 0.45%, or 193 points, with Nvidia Corporation experiencing a sharp decline of 8.48%. The Nasdaq 100 wasn't spared, plummeting by 2.75%, or 581 points, as MicroStrategy Inc. fell by 8.82%. Similarly, the S&P 500 declined by 1.58%, with Teleflex Inc. witnessing a significant drop of 21.69%.

Currency Markets Remain Steady

Despite the turmoil in the stock markets, the euro remained steady against the dollar, selling for $1.04013 at 4:16 pm ET.