Wall Street Opens with Significant Losses Amid Tariff Fallout

Wall Street witnessed a turbulent opening on Thursday, with major indices plummeting as the market grapples with the aftermath of sweeping new tariffs imposed by United States President Donald Trump. The move has sparked fears of a global trade war, leaving investors on edge.

Key Indices and Stocks Take a Hit

The Dow Jones nosedived by 2.61%, with Nike suffering a staggering 12.23% drop. The Nasdaq 100 wasn't spared, plunging 4.12% as Lululemon Athletica dived 10.07%. Meanwhile, the S&P crashed 3.37% following a 14.88% tumble by Gardmin Ltd.

Euro Gains Against the Dollar

Amid the market turmoil, the euro surged 2.23% against the dollar, trading at $1.10986 by 9:29 am ET. This shift reflects the global financial community's reaction to the unfolding trade tensions.