Market Reacts to Trump's Tariff Executive Order

Stock futures in the United States faced significant losses early Friday, following President Donald Trump's signing of an executive order to hike trade duties for several nations while maintaining a 10% baseline rate for others. This move has left investors on edge, closely monitoring the situation for potential impacts on the global market.

Key Economic Data Awaited

Amid the tariff tensions, the market is also bracing for a slew of critical economic reports. These include updates on nonfarm payrolls, consumer confidence, and PMI data, which could further influence market dynamics in the coming days.

Major Indices Take a Hit

By 6:55 am ET, the Dow Jones Industrial Average had plummeted by 1.08%, shedding 480 points, while the Nasdaq 100 and S&P 500 also saw declines of 1.23% and 1.1%, respectively. The euro remained stable against the dollar, trading at $1.14131 by 7:03 am ET.