The stock market opened down on Monday morning and has continued to slide. The Nasdaq dropped more than 2% at opening and has since reached over 3.25%, while the dollar hit its lowest value against foreign currencies in years.

By noon, the Dow Jones Industrial Average was down 1,100 points, and the S&P 500 dropped nearly 3%. Big Tech shares, such as Tesla, Nvidia, and Salesforce, saw losses of about 6.8%, 5.5%, and 5.6%, respectively. The U.S. Dollar Index has fallen about 1.41% over the past week and hit a low of $97.99 on Monday, the lowest since February 2022.