Market Reaction to China's Tariff Hike

Following China's announcement to increase tariffs on US imports from 84% to 125%, US stock futures experienced a significant drop. This move marks a sharp escalation in trade tensions, coming just days after President Donald Trump's implementation of broad trade measures.

Early Market Figures

At 4:35 am ET, the Dow Jones Industrial Average was down by 135 points, or 0.34%, while the Nasdaq 100 and the S&P 500 also saw declines of 0.43% and 0.36%, respectively.

Currency Market Movements

In the currency markets, the euro strengthened against the dollar, rising by 1.89% to $1.14106 by 4:36 am ET.