Market Turmoil as Trade Tensions Escalate

In a dramatic premarket session, the Dow Jones Industrial Average witnessed a staggering drop of over 1,400 points, marking a 3.49% decline. This significant downturn reflects growing investor anxiety over President Donald Trump's trade policies and their potential to disrupt global commerce.

Retaliatory Measures Spark Further Concerns

Adding to the market's woes, China has retaliated against U.S. tariffs by imposing a 34% duty on all U.S. goods, escalating tensions between the two economic powerhouses. This move has further unsettled investors, leading to widespread sell-offs.

Nasdaq and S&P 500 Follow Dow's Lead

The Nasdaq 100 and S&P 500 were not spared, with losses of 3.62% and 3.46% respectively. Meanwhile, the euro saw a slight increase against the dollar, trading at $1.10678.