Market Opens Lower Amid Tariff Announcements

As the opening bell rang on Wednesday, U.S. stock indexes faced downward pressure. Investors reacted nervously to the impending enforcement of U.S. tariffs on imported cars, steel, and aluminum. Adding to the tension, President Donald Trump's announcement of reciprocal tariffs on global trade partners loomed large.

Tesla's Q1 Deliveries Miss Expectations

In corporate news, Tesla Inc. disclosed its first-quarter deliveries for 2025, which totaled 336,681 units. This figure fell short of analysts' forecasts, contributing to the day's market downturn.

Indexes and Stocks Take a Hit

By 9:30 am ET, the Dow Jones had plummeted by 0.82%, shedding 343 points, with Nvidia experiencing a 2.92% loss. Simultaneously, the Nasdaq 100 and the S&P 500 weren't spared, dropping 1.34% and 1.03%, respectively. Tesla's shares were particularly hard-hit, nosediving by 5.56%.

Euro Gains Against the Dollar

Amid the market turmoil, the euro saw a modest increase of 0.27% against the dollar, trading at $1.08230 at 9:28 am ET.