Market Opens with Losses as Trade Tensions Escalate

On Thursday, the United States stock markets opened with notable losses, a reflection of the ongoing trade tensions between the US and Canada, as well as the US and the European Union. A significant development was US President Donald Trump's threat to impose a 200% tariff on European Union alcohol, a move that has sent ripples through the markets.

Impact on Major Indexes

The Dow Jones Industrial Average saw a 0.35% decline, with Home Depot's shares dropping by 2.04%. Similarly, the Nasdaq 100 and the S&P 500 experienced downturns, falling by 0.35% and 0.25% respectively. Adobe's shares took a significant hit, plunging by 10.79% on both indexes.

Currency Movements

In the currency markets, the euro weakened against the dollar by 0.47%, trading at $1.08359 at 9:29 am ET.