The Dow Jones fell 0.7% at the opening, the S&P 500 fell 1.0%, and the Nasdaq fell 1.4%.

Banking stocks fell across the board, with Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase all dropping by more than 1%. Reddit fell by 7.5%, with Wells Fargo downgrading its rating to "neutral". Tesla dropped by 4.2%, with the key testing for Robotaxi still not initiated. Walmart fell by 2.5%, with Trump pressuring Walmart to "swallow" tariffs.