US Stock Market Takes a Nosedive in Premarket Trading

Early Monday trading saw significant losses across major US stock indexes, with the Dow Jones Industrial Average leading the downturn by shedding over 530 points. The market's shaky start was fueled by ongoing political and trade tensions, particularly the tariff disputes involving the US, Canada, and Mexico.

Canada's Stance on Tariffs

Adding to the market's woes, Canada's newly-elected Liberal Party leader and next prime minister, Mark Carney, has vowed to maintain retaliatory tariffs on US imports. Carney emphasized that these measures would remain in place until the US demonstrates a commitment to fair trade practices.

Market Impact

By 8:12 am ET, the Dow Jones had fallen by 1.25%, while the Nasdaq 100 and the S&P 500 both experienced a 1.69% drop. Meanwhile, the euro remained steady against the dollar, trading at $1.08459.