Market Opens in Red Amid Tariff Talks

United States markets opened lower on Tuesday, with the Dow Jones Industrial Average falling 340 points, as investors remained cautious ahead of the Federal Reserve's rate decision due Wednesday. The market's mood was further influenced by signals from the White House, where President Donald Trump revealed plans for new tariffs on pharmaceutical imports and a potential meeting with film industry leaders to discuss tariffs on foreign-made movies.

Earnings Reports Highlight Mixed Results

On the earnings front, DoorDash reported a 21% annual revenue increase in the first quarter, while companies like Rivian and AMD are set to announce their quarterly results later in the day. Despite some positive earnings reports, the overall market sentiment remained bearish.

Sector Performances and Currency Movements

The S&P 500 and Nasdaq 100 also saw declines, with Palantir and Vertex Pharmaceuticals among the worst performers. In currency markets, the euro gained slightly against the dollar, trading 0.19% higher.