Market Turmoil as Trade War Fears Intensify

Equities in the United States faced significant losses this Friday, as the shadow of President Donald Trump's tariffs looms large over international trade relations. In a bold countermove, China has imposed a 34% tariff on all US exports, escalating tensions between the two economic powerhouses.

Stock Market Reaction

The Dow Jones Industrial Average witnessed a sharp decline, dropping by 2.24% or 907 points by 6:23 am ET. Similarly, the Nasdaq 100 and S&P 500 were not spared, plummeting by 2.42% and 2.37% respectively.

Currency Impact

The euro also felt the pressure, decreasing by 0.20% against the dollar to $1.10332 at 6:19 am ET, reflecting the broader market unease.