Major stock markets on Wall Street turned to losses on Wednesday amid growing investor concern about the economic fallout of the new tariffs that will go into effect on April 2.
Major tech companies led the losses in the aftermath of United States President Donald Trump stating there would not be "too many" exemptions from the upcoming tariffs. The US president is also scheduled to unveil new auto tariffs today at 4 pm ET. The Nasdaq 100 sank 2% at 2:03 pm ET, and the Dow Jones declined 0.45% or 190 points while the S&P 500 plummeted 1.28% at the same time.
Meanwhile, the euro weakened 0.32% against the dollar and exchanged for $1.07575 at 2:04 pm ET.
