Market Opens Lower Amid Tariff Tensions

Following President Donald Trump's recent announcement of imposing 30% tariffs on the European Union and Mexico, effective August 1, the US stock markets opened mostly lower on Monday. The decision has sparked immediate reactions from global leaders, with the EU and Mexico planning further discussions to negotiate lower rates. Additionally, a 35% tariff on Canada was declared by Trump last Friday, further intensifying trade tensions.

Earnings Season Adds to Market Volatility

As the second-quarter earnings season kicks into high gear this week, investors are bracing for potential impacts on market stability. Notable early movers included Nike Inc., which saw a 1.01% dip, and Waters Corp., which plummeted by 9.69%, marking it as the worst performer in early trading.

Currency Movements Reflect Trade Concerns

The euro also felt the pressure, declining by 0.12% against the dollar, trading at $1.16758, as markets react to the unfolding trade scenarios.