Market Downturn Amid Tariff Concerns

Wall Street witnessed a significant downturn this Wednesday, with major indices plunging as investor anxiety over upcoming tariffs intensified. The announcement by President Donald Trump, suggesting limited exemptions from the new tariffs, has notably shaken market confidence.

Tech Sector Leads the Decline

The tech-heavy Nasdaq 100 was hit the hardest, dropping 2% by 2:03 pm ET. Similarly, the Dow Jones Industrial Average and the S&P 500 weren't spared, with declines of 0.45% (190 points) and 1.28%, respectively, at the same time.

Currency Markets React

In the currency markets, the euro weakened against the dollar, trading at $1.07575 by 2:04 pm ET, marking a 0.32% decrease. This movement reflects the broader financial market's reaction to the tariff scare.