Market Turmoil Following China's Tariff Hike

In a bold move that sent shockwaves through the financial markets, China has escalated the ongoing trade dispute by increasing tariffs on US goods from 84% to 125%. This decision comes as a direct response to the US President Donald Trump's recent hike on Chinese imports, pushing the cumulative rate to a staggering 145%.

Investor Sentiment and Economic Indicators

Investors are closely monitoring the situation, with the latest producer prices report showing a 0.4% decrease in March, adding another layer of complexity to the market's outlook.

Stock Market Performance

The Dow Jones Industrial Average opened lower by 0.36%, with Walt Disney leading the decline at 6.79%. Similarly, the Nasdaq 100 and the S&P 500 saw decreases of 0.19% and 0.20% respectively, as Texas Instruments Incorporated faced an 8.05% drop.

Currency Fluctuations

Amidst the market's volatility, the euro experienced a significant shift, trading 1.76% against the US dollar, reaching $1.13960.