Market Reacts to New Tariffs on Chinese Imports

Following the implementation of President Donald Trump's significant 104% tariff on Chinese imports, US equities experienced a downturn. This move has sparked concerns among investors, particularly those with companies heavily reliant on production in China.

Impact on Major Indices

By 4:16 am ET, the Dow Jones Industrial Average had fallen by 0.41%, and the S&P 500 saw a 0.27% decrease. Contrastingly, the Nasdaq 100 managed a slight gain of 0.23%.

Currency Movements

In currency markets, the euro appreciated by 0.55% against the dollar, trading at $1.10196 by 10:17 am ET.