Market Reaction to Trade Tensions

Following the announcement of new tariffs by China and the European Union in response to President Donald Trump's recent trade policies, major US stock indexes opened lower. This development has intensified concerns over a potential global trade war, with Trump hinting at additional tariffs on pharmaceutical imports.

Impact on Major Indexes

The Dow Jones Industrial Average fell by 0.78%, or 296 points, with Johnson & Johnson leading the decline at a 4.40% drop. The S&P 500 also decreased by 0.41%, while the Nasdaq 100 remained relatively stable. Notably, Bio Techne Corporation saw a significant decrease of 4.36% by 9:31 am ET.

Currency Movements

Amid these market fluctuations, the euro appreciated by 1.07% against the dollar, trading at $1.10761 at 9:28 am ET.

Expert Warnings: JPMorgan Chase & Co. CEO Jamie Dimon has voiced concerns that these escalating tariffs could potentially lead the US into a recession, highlighting the broader economic risks at stake.