Market Reacts to Trump's Tariff Plan

Early Friday, US stock futures witnessed a significant downturn, echoing the steepest losses since 2020. This dramatic shift was largely fueled by President Donald Trump's announcement of sweeping new tariffs, sending shockwaves through the financial markets.

Futures in Freefall

At 4:33 am ET, Dow futures were down by 406 points, marking a 0.99% decrease. Similarly, S&P 500 and Nasdaq 100 futures weren't spared, declining by 0.77% and 0.37%, respectively.

Currency Markets Feel the Heat

The impact wasn't limited to stocks. By 4:28 am ET, the euro had depreciated by 0.44% against the dollar, trading at $1.10033, highlighting the broader implications of the new tariff plan on global finance.