Market Turmoil Follows Trump's New Tariffs

Wall Street faced significant losses at the opening bell on Thursday, as the financial markets reeled from the impact of sweeping new reciprocal tariffs imposed by United States President Donald Trump. The move has sparked widespread concern among investors about the potential economic fallout, with the global community's response still pending.

Stock Indexes Take a Hit

The Dow Jones Industrial Average nosedived by 2.61%, with Nike leading the losses by plummeting 12.23%. Similarly, the Nasdaq 100 saw a sharp decline of 4.12%, highlighted by Lululemon Athletica's 10.07% drop. The S&P 500 wasn't spared, crashing 3.37% after Gardmin Ltd. tumbled 14.88%.

Currency Markets React

Amid the stock market chaos, the euro surged 2.23% against the dollar, trading at $1.10986 by 9:29 am ET, signaling a flight to safety among investors.