Wall Street Reacts to Trump's Tariff Announcement

Stock markets on Wall Street faced significant losses during Monday's premarket session, with the Dow Jones Industrial Average dropping more than 300 points. This downturn comes after US President Donald Trump announced that his upcoming tariffs would apply to "all countries," sparking fears of a potential international trade conflict that could lead to an economic downturn.

Upcoming Tariffs and Global Implications

Further escalating tensions, Trump is set to reveal reciprocal tariffs on April 2, with automotive tariffs following on April 3. In a recent statement, Trump also expressed frustration towards Russian President Vladimir Putin, hinting at possible secondary tariffs on Russian oil purchasers if he perceives Moscow as obstructing efforts to resolve the Ukraine conflict.

Market Performance at a Glance

By 5:54 am ET, the Dow Jones Industrial Average had fallen by 0.73%, or 303 points. Similarly, the Nasdaq 100 and the S&P 500 saw declines of 1.41% and 1.08%, respectively. The euro also weakened against the dollar, trading at 1.08142, down by 0.12%.