The U.S. stock market opened with minimal movement Wednesday following a week of steep losses triggered by President Donald Trump’s sweeping tariff announcements. The Dow Jones Industrial Average opened about 250 points lower but quickly stabilized.
From Thursday through Tuesday, the Dow fell over 4,000 points—about 10% of its value—after Trump imposed a 10% tariff on nearly all imported goods, affecting dozens of countries. The U.S. began collecting those duties early Wednesday.
Additional market uncertainty emerged as China and the European Union both introduced retaliatory tariffs on U.S. goods.
Pharmaceutical stocks were among the hardest hit. Companies like Alnylam Pharmaceuticals and Ascendis Pharma saw significant losses after Trump floated new tariffs on imported medicine Tuesday evening. He claimed such a move would force pharmaceutical companies to shift production back to the U.S.
“They’re going to be opening up their plants all over our country,” Trump said.
Sources
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