Market Reaction to Tariff Retaliation

Following the imposition of new tariffs by China and the European Union in response to President Donald Trump's trade policies, major U.S. stock indexes opened lower on Wednesday. This move has intensified concerns over a potential global trade war, with Trump hinting at additional tariffs on pharmaceuticals.

Impact on Major Indexes

The Dow Jones Industrial Average experienced a significant drop, losing 0.78% or 296 points, largely due to a 4.40% decline in Johnson & Johnson shares. Similarly, the S&P 500 fell by 0.41%, with Bio Techne Corporation leading the downturn with a 4.36% drop. The Nasdaq 100, however, remained stable.

Currency Movements

Amidst the market turmoil, the euro strengthened against the dollar, rising by 1.07% to $1.10761, reflecting the global financial community's reaction to the unfolding trade tensions.