US stock markets open sharply lower as economic contraction sparks selloff
US markets opened in red as the economy unexpectedly shrank by 0.3% in the first quarter, driven by increased imports and slower consumer spending. The decline raised concerns about President Trump's tariff policies, with the Dow, Nasdaq, and S&P 500 all experiencing significant drops. European and Asian markets showed mixed reactions amidst global trade uncertainties.
US markets opened in red as the economy unexpectedly shrank by 0.3% in the first quarter, driven by increased imports and slower consumer spending. The decline raised concerns about President Trump's tariff policies, with the Dow, Nasdaq, and S&P 500 all experiencing significant drops. European and Asian markets showed mixed reactions amidst global trade uncertainties.
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