Global Stock Markets Decline Amid Fears of Drug Tariffs
Wall Street and European stocks fall as U.S. President Trump announces potential tariffs on pharmaceuticals.
Global stock markets experienced a notable decline as investors reacted to U.S. President Donald Trump's latest plans to impose tariffs on pharmaceuticals, negatively impacting corporate earnings sentiment.
The Dow Jones Industrial Average opened down 218.6 points, a decrease of 0.53%, settling at 41,000.19 points.
Similarly, the Standard & Poor's 500 dropped 44.5 points, or 0.79%, to reach 5,605.87 points, while the NASDAQ Composite fell by 221.0 points, equating to a reduction of 1.24%, ending at 17,623.209 points.
In Europe, stock indices also fell as investors assessed the earnings reports from various companies and awaited developments regarding the impending tariffs and the monetary policy decision from the Federal Reserve scheduled for this week.
The Stoxx 600, a key European index, recorded a value of 537.35 points, amidst a mixed performance from other European indices.
Attention turned to the potential easing of trade tensions between the United States and China, following Beijing's indication last week that it is evaluating an offer from Washington to engage in discussions concerning tariffs.
However, the lack of tangible details regarding any agreements between the U.S. and its trading partners has maintained investor unease, particularly in light of Trump's announcement of new tariffs.
On Sunday, Trump declared that he would impose a 100% tariff on films produced outside the United States and indicated plans to announce tariffs on pharmaceuticals within the next two weeks.
The Dow Jones Industrial Average opened down 218.6 points, a decrease of 0.53%, settling at 41,000.19 points.
Similarly, the Standard & Poor's 500 dropped 44.5 points, or 0.79%, to reach 5,605.87 points, while the NASDAQ Composite fell by 221.0 points, equating to a reduction of 1.24%, ending at 17,623.209 points.
In Europe, stock indices also fell as investors assessed the earnings reports from various companies and awaited developments regarding the impending tariffs and the monetary policy decision from the Federal Reserve scheduled for this week.
The Stoxx 600, a key European index, recorded a value of 537.35 points, amidst a mixed performance from other European indices.
Attention turned to the potential easing of trade tensions between the United States and China, following Beijing's indication last week that it is evaluating an offer from Washington to engage in discussions concerning tariffs.
However, the lack of tangible details regarding any agreements between the U.S. and its trading partners has maintained investor unease, particularly in light of Trump's announcement of new tariffs.
On Sunday, Trump declared that he would impose a 100% tariff on films produced outside the United States and indicated plans to announce tariffs on pharmaceuticals within the next two weeks.
