Market Reacts to New Tariffs

In a significant move that has sent ripples through the financial markets, United States President Donald Trump has announced an increase in tariffs on aluminum and steel imports from Canada. Effective immediately, the tariffs will rise to 50%, a decision that has not been taken lightly by the markets.

Impact on Dow Jones and Other Indices

Following the announcement, the Dow Jones Industrial Average experienced a sharp decline, dropping 0.84% or 350 points by 10:11 am ET. The S&P 500 also saw a decrease, falling by 0.37%, while the Nasdaq 100 remained relatively stable, showing no significant change.

Currency Movements

In the currency markets, the euro strengthened against the dollar, trading 0.62% higher at 1.09018 by 10:12 am ET. This movement reflects the broader market's reaction to the new tariffs and the uncertainty they bring to international trade relations.