Market Reacts to China's Tariff Hike

Following China's announcement to increase tariffs on US imports from 84% to 125%, US stock futures witnessed a significant dip early Friday. This move intensifies the ongoing trade tensions between the two economic powerhouses, coming just days after the US imposed sweeping trade measures under President Donald Trump's administration.

Stock Market Impact

At 4:35 am ET, the Dow Jones Industrial Average fell by 135 points, marking a 0.34% decline. Similarly, the Nasdaq 100 and the S&P 500 experienced drops of 0.43% and 0.36%, respectively, signaling a cautious response from investors to the escalating trade dispute.

Currency Market Fluctuations

In the currency markets, the euro saw a notable rise against the dollar, increasing by 1.89% to $1.14106 by 4:36 am ET, reflecting the immediate impact of the trade tensions on global currency valuations.