Market Opens in the Red Amid Tariff and Fed Speculation

United States markets opened lower on Tuesday, with the Dow Jones Industrial Average falling by 340 points, as investors tread cautiously ahead of the Federal Reserve's imminent rate decision. The market's unease was further compounded by President Donald Trump's announcement of impending new tariffs on pharmaceutical imports, with details expected within the next two weeks.

Trump's Tariff Talks Stir Market Unease

Adding to the market's cautious stance, President Trump also revealed plans to discuss potential tariffs on foreign-made movies with film industry leaders. This move has introduced additional uncertainty into an already jittery market environment.

Earnings Reports Offer Mixed Signals

On the corporate front, DoorDash reported a notable 21% increase in first-quarter revenue, showcasing resilience in the delivery sector. Meanwhile, all eyes are on Rivian and AMD, as they prepare to release their quarterly results after the market closes.

Key Performers and Market 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, reflecting the day's mixed economic signals.