Stock Markets React to Jobs Report and Tariff Updates

Today, the U.S. stock markets opened significantly lower, with the Dow Jones Industrial Average dropping over 500 points. This downturn follows the release of the July jobs report, which showed a disappointing increase of only 73,000 nonfarm payrolls, far below the anticipated 104,000.

Investors Weigh Tariff Decisions

Adding to the market's volatility, President Donald Trump announced a 90-day extension on tariffs for Mexico and introduced updated duties ranging from 10% to 41% for select countries, effective August 7. These developments have left investors cautious, impacting major indices and leading to notable losses for companies like Amazon.com Inc, which saw a 6.89% drop.

Market Performance Highlights

The Nasdaq 100 wasn't spared, decreasing by 1.89%, while the S&P 500 also entered red territory, losing 1.26%. Eastman Chemical Co. experienced a significant crash, plummeting by 13.65%. Amidst these market movements, the euro gained strength against the dollar, rising by 1.34% to $1.15669 by mid-morning.