Market Opens Lower Amid Tariff Announcements

Stock indexes in the United States opened with significant losses on Wednesday, as global markets reacted to the implementation of new US tariffs on all imported cars, steel, and aluminum. These measures, which came into effect today, have sparked concerns over potential retaliatory actions from global trade partners.

Tesla Misses Delivery Expectations

In corporate news, Tesla Inc. reported that its first-quarter deliveries for 2025 reached 336,681 units, falling short of analysts' expectations. This announcement contributed to the downward pressure on the Nasdaq 100 and S&P indexes, with Tesla's shares tumbling 5.56%.

Index Performance and Currency Movements

By 9:30 am ET, the Dow Jones had dropped 0.82%, or 343 points, with Nvidia losing 2.92%. The Nasdaq 100 and S&P also saw declines, dipping 1.34% and 1.03%, respectively. Meanwhile, the euro gained 0.27% against the dollar, trading at $1.08230.