Market Turmoil as Trade War Fears Intensify

Equities in the United States faced significant losses on Friday, driven by growing concerns over President Donald Trump's tariffs and their potential to disrupt international trade relations. In a retaliatory move, China has imposed a 34% duty on all US products, escalating tensions between the two economic powerhouses.

Major Indices Experience Sharp Declines

By 6:23 am ET, the Dow Jones Industrial Average had plummeted by 2.24% or 907 points, signaling a bleak outlook for investors. The Nasdaq 100 and S&P 500 were not spared, with drops of 2.42% or 448 points and 2.37%, respectively.

Currency Markets React

The euro also felt the pressure, declining by 0.20% against the dollar to trade at $1.10332 by 6:19 am ET, as investors sought safer havens amid the uncertainty.