Major Wall Street stock markets traded lower during premarket hours on Monday as investors anticipated United States President Donald Trump's sweeping tariffs, including reciprocal tariffs on all countries and a 25% tariff on imported cars, which are set to be imposed on Wednesday. Trump's Senior Counselor for Trade and Manufacturing, Peter Navarro, said yesterday that the incoming tariffs will raise about $700 billion per year, but European Central Bank (ECB) President Christine Lagarde stated that a trade war between the EU and the US is a "lose-lose scenario."
The Dow Jones Industrial Average declined by 0.43% at 4:22 am ET, while the Nasdaq 100 fell by 1.13% at the same time. Meanwhile, the S&P 500 dropped by 0.79% at 4:23 am ET.
The euro lost 0.12% against the dollar at 4:21 am ET, selling for $1.08184.
