Market Turmoil Follows Trump's Tariff Announcement

American equity markets faced a sharp decline at Monday's opening, as the Trump administration's introduction of steep trade tariffs on major US trading allies sent shockwaves through the financial world. This move has led to a three-day market collapse, with major indices suffering significant losses.

Trump Stands Firm Amidst Growing Trade Imbalance

President Donald 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.

Major Indices and Companies Hit Hard

The Dow Jones Industrial Average plummeted by 3.53%, losing 1,379 points, with NVIDIA Corporation seeing a 6.63% drop. The Nasdaq 100 wasn't spared, declining by 3.49%, while MicroStrategy Inc. faced a staggering 9.56% fall. The S&P 500 also suffered, dropping 3.45%, with Tesla Inc. leading the downturn with a 7.01% decrease. Meanwhile, the euro remained stable against the dollar, trading at 1.09671.