Major stock markets in the United States extended their losses on Thursday as investors remained unsettled despite new tariff concessions from the White House. The Nasdaq 100 tumbled 3%, deepening the market's steep pullback. President Donald Trump announced that Mexico would not be required to pay tariffs on goods covered under the USMCA. The exemption will last until April 2. Despite these concessions, market sentiment remained negative and investors continued to react to broader concerns over trade uncertainty and economic conditions.
In addition, shares of MongoDB Inc., a key Nasdaq 100 component, plunged 24.6% after the company posted weak fourth-quarter results and issued lower-than-expected full-year guidance.
At 2:24 pm ET, the Dow dropped 1.38% or 592 points and the Nasdaq 100 sank 3.05%. At the same time, the S&P 500 nosedived 2.14%. The euro was flat compared to the dollar, changing hands at $1.07939 at 2:24 pm ET.
