Market Reacts to China's Tariff Hike

In a bold move that escalates trade tensions, China has announced an increase in tariffs on US imports, from 84% to 125%. This decision comes shortly after US President Donald Trump's implementation of sweeping trade measures.

Impact on US Stock Futures

By 4:35 am ET, the Dow Jones had dropped 135 points, or 0.34%, signaling a shaky start to the trading day. The Nasdaq 100 and the S&P 500 also saw declines, falling by 0.43% and 0.36% respectively.

Currency Markets Response

The euro gained strength against the dollar, rising by 1.89% to $1.14106 by 4:36 am ET, as investors sought safer assets amid the growing trade uncertainty.