Major stock markets on Wall Street continued to post losses on the opening bell on Thursday as markets continued to experience the consequences of sweeping new reciprocal tariffs imposed by United States President Donald Trump on countries around the globe. Investor concern was exacerbated by the potential economic impact of the new duties, as traders now await how other countries will respond to the new levies.

The Dow Jones nosedived 2.61% with Nike plummeting 12.23%. The Nasdaq 100 plunged 4.12% as Lululemon Athletica dived 10.07%. At the same time, the S&P crashed 3.37% after Gardmin Ltd. tumbled 14.88%.

The euro surged 2.23% against the dollar at 9:29 am ET and sold for $1.10986.