Market Opens Lower Amid Tariff Tensions

Major U.S. stock indexes started the day in the red on Wednesday, weighed down by the ongoing impact of President Donald Trump's tariffs, especially those targeting China. Investors' unease was further compounded by disappointing economic indicators from the U.S.

Economic Indicators Show Weakness

The U.S. reported a notable drop in mortgage applications and a slight decline in industrial production, adding to the market's woes. These figures have raised concerns about the health of the U.S. economy amidst global trade tensions.

Tech Stocks Lead Declines

At 9:31 am ET, the Dow Jones Industrial Average was down by 0.35%, with Nvidia Corporation leading the fall with a 6.39% drop. The Nasdaq 100 and S&P 500 also saw significant declines, with Advanced Micro Devices Inc. (ADM) plummeting by 7.08%.

Euro Gains Against Dollar

In currency markets, the euro appreciated by 0.76% against the dollar, trading at $1.13653 at 9:28 am ET, reflecting the shifting dynamics in global financial markets.