US Markets Open Lower Amid Trade War Tensions

American equity markets faced a steep decline at Monday's opening, following President Donald Trump's announcement of unexpectedly high trade tariffs on major US allies. This move has triggered a significant market downturn, marking a three-day period of financial instability and a collapse in investor confidence.

Trump Stands Firm on Trade Imbalance with China

President Trump has reiterated his stance, stating that the US will not engage in tariff discussions with China until the $1 trillion trade imbalance is resolved. In response, China has imposed a 34% tariff on all US goods, escalating tensions between the two economic powerhouses.

Market Reactions and Key Losses

The Dow Jones plummeted by 3.53%, losing 1,379 points, with NVIDIA Corporation seeing a 6.63% drop. The Nasdaq 100 and S&P 500 also suffered significant losses, declining by 3.49% and 3.45% respectively. Tesla Inc. led the downturn in the S&P 500, with a 7.01% decrease. Meanwhile, the euro remained stable against the dollar, trading at 1.09671.