Market Reacts to New Tariffs on Chinese Imports

Following the implementation of President Donald Trump's significant 104% duty on Chinese imports, U.S. equities experienced a mostly lower trading session on Wednesday. This move has sparked investor concerns, particularly among companies heavily reliant on manufacturing in China.

Pharmaceuticals Next in Line for Tariffs

Adding to the market's unease, President Trump announced plans to introduce a "major tariff" on pharmaceuticals, further escalating trade tensions.

Market Indices Show Mixed Results

By early morning, the Dow Jones Industrial Average had fallen by 0.41%, and the S&P 500 dropped by 0.27%. Conversely, the Nasdaq 100 saw a slight increase of 0.23%.

Euro Gains Against the Dollar

In currency markets, the euro appreciated by 0.55% against the dollar, trading at $1.10196 by mid-morning.