Market Turmoil Continues Despite Tariff Concessions

In a dramatic turn of events, the Nasdaq 100 experienced a sharp decline, dropping 3% as the market's unease persisted. This downturn occurred even after the White House announced tariff concessions, indicating that investor concerns extend beyond immediate trade policies.

President Donald Trump revealed that Mexico would be exempt from tariffs on goods covered under the USMCA until April 2. Despite this gesture, the market's response was overwhelmingly negative, reflecting broader anxieties about trade uncertainty and the global economic outlook.

MongoDB Inc. Shares Take a Nosedive

Adding to the market's woes, MongoDB Inc., a significant component of the Nasdaq 100, saw its shares plummet by 24.6%. This drastic drop followed the company's disappointing fourth-quarter results and its forecast of lower-than-expected full-year guidance.

By 2:24 pm ET, the Dow had fallen by 1.38% or 592 points, while the S&P 500 experienced a 2.14% decline. The euro remained stable against the dollar, trading at $1.07939 at the same time.