Market Reaction to Trade Tensions

Following the announcement of countermeasures by China and the European Union in response to President Donald Trump's tariffs, major US stock indexes opened lower, sparking concerns over a potential full-blown trade war. The situation escalated as Trump hinted at imposing additional tariffs on pharmaceutical imports, while JPMorgan Chase & Co. CEO Jamie Dimon cautioned that such measures could lead the US into a recession.

Index Performance

The Dow Jones Industrial Average saw a significant drop of 0.78%, or 296 points, with Johnson & Johnson shares falling by 4.40%. The S&P 500 declined by 0.41%, led by a 4.36% decrease in Bio Techne Corporation's stock. In contrast, the Nasdaq 100 remained stable.

Currency Movements

Amid these developments, the euro appreciated by 1.07% against the dollar, trading at $1.10761.