Market Turmoil Amid Trade War Tensions

Major US stock markets opened with significant losses on Friday, as global equities were thrown into disarray following China's announcement of counter-levies on all US goods. This move by Beijing has heightened fears of a potential recession and the broader impacts of the escalating trade conflict between the US and other major economies.

Indexes Hit Hard

The Dow Jones plummeted by 2.34%, with Caterpillar shares dropping 6.12%. Similarly, the Nasdaq 100 and S&P 500 saw declines of 2.65% and 2.4% respectively, with HealthCare Technologies experiencing a dramatic 15.92% fall on both indexes.

Currency Fluctuations

On the currency markets, the euro weakened against the dollar, falling 0.30% to $1.10208 by 9:28 am ET, reflecting the widespread uncertainty in global markets.