Wall Street Braces for Potential Black Monday as Trade War Fears Intensify

The financial markets are on edge, with Wall Street poised for a significant downturn reminiscent of Black Monday. The root cause? Growing apprehensions surrounding the tariffs recently imposed by United States President Donald Trump, which are sending shockwaves through global markets.

Futures Market Reflects Deep Concerns

As of 1:50 am ET, the Nasdaq 100 futures witnessed a dramatic fall of 4.27%, while the Dow Jones futures and S&P 500 futures weren't spared, plummeting by 2.75% (or 1,000 points) and 3.44%, respectively. This sharp decline underscores the market's nervousness about the ongoing trade tensions.

Euro Strengthens Against the Dollar

In a related development, the euro gained 0.50% against the dollar, trading at 1.10209 by 2:02 am ET, highlighting the dollar's vulnerability in the current economic climate.