Market Opens Lower Amid Tariff Tensions and Economic Concerns

On Wednesday, the United States stock market opened lower, with major indexes showing significant declines. This downturn comes as President Donald Trump's tariffs, especially those targeting China, continue to unsettle investors. Adding to the market's woes, recent data revealed a drop in US mortgage applications and a decrease in industrial production, further dampening the economic outlook.

Indexes and Stocks Take a Hit

The Dow Jones Industrial Average fell by 0.35%, or 142 points, by 9:31 am ET, with Nvidia Corporation leading the losses by sinking 6.39%. The Nasdaq 100 wasn't spared either, dropping 1.82%, or 341 points, while the S&P 500 decreased by 0.96%. Among the hardest hit was Advanced Micro Devices Inc. (ADM), which saw a dramatic plunge of 7.08%.

Euro Gains Against the Dollar

In currency news, the euro experienced a notable rise against the dollar, increasing by 0.76% to $1.13653 by 9:28 am ET, signaling shifting dynamics in the foreign exchange markets.