Market Opens Lower Amid Trade Concerns

Wall Street started the week on a downward trend, with major indices slipping as trade policy concerns took center stage. The United States has confirmed that new tariffs on certain countries will be implemented starting August 1, reigniting fears among investors.

US-EU Trade Deal Deadline Looms

Adding to the market's unease, the deadline for a trade agreement between the United States and the European Union is fast approaching this week. The uncertainty surrounding future trade relations has left many questioning the potential impact on global markets.

Trump's Additional Tariff Threat

In a move that could further complicate international trade dynamics, US President Donald Trump has announced a potential 10% levy on countries collaborating with BRICS nations. This announcement has contributed to the prevailing sense of uncertainty in the market.

Indices and Currency Movements

By 9:31 am ET, the Dow Jones Industrial Average had fallen by 0.18%, with Merck and Co. experiencing a 0.24% drop. The Nasdaq 100 and the S&P 500 also saw declines, falling by 0.47% and 0.32% respectively, as Tesla's shares plummeted by 6.91%. Meanwhile, the euro decreased by 0.30% against the dollar, trading at $1.17390 by 9:32 am ET.