Market Reacts to Trump's Criticism

In a surprising turn of events, the Dow Jones Industrial Average experienced a significant drop, losing over 300 points in the premarket trading session. This drastic movement came after President Donald Trump once again criticized Canada's tariff policy, threatening further measures against the country. Trump also dismissed concerns about the US economy potentially heading into a recession, describing the current situation as a "period of transition."

Impact on Major Indices

By 4:30 am ET, the Dow Jones Industrial Average had slid by 0.63%, or 270 points, after an earlier nosedive of more than 300 points. The Nasdaq 100 and the S&P 500 were not spared, with the former plunging by 0.95% or 191 points and the latter declining by 0.82%.

Currency Movements

In the currency markets, the euro experienced a slight drop against the dollar, selling for $1.08169 at 4:29 am ET, a decrease of 0.27%.