Market Reacts to New Tariffs

Following the implementation of President Donald Trump's significant 104% duty on Chinese imports, the US stock market experienced a mostly lower trading session. This move has raised alarms among investors, particularly those reliant on production from China.

Impact on Major Indices

By early morning, the Dow Jones Industrial Average had decreased by 0.41%, and the S&P 500 saw a drop of 0.27%. Contrary to the trend, the Nasdaq 100 managed a slight increase of 0.23%.

Currency Movements

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

Additional Tariffs Announced

Adding to the market's unease, President Trump revealed plans to impose a "major tariff" on pharmaceuticals, further unsettling investors.