Shares of U.S. car manufacturers fell, with Ford Motor (F.US) down 2.3% and General Motors (GM.US) down 0.8%, after Trump threatened to impose a 50% tariff on cars and trucks.

U.S. pharmaceutical stocks declined, with BioNTech (BNTX.US) dropping 11%, marking its largest intraday loss since March 10, after the company announced the termination of its Phase II colorectal cancer clinical trial. Moderna (MRNA.US) fell 5%, and Merck (MRK.US) dropped 1.3%.

The Dow Jones opened up 0.08%, the Nasdaq fell 0.1%, and the S&P 500 rose 0.05%. Among major tech stocks, Amazon rose 0.8%, Intel fell 1.98%, and Super Micro Computer declined 0.87%. The Nasdaq Golden Dragon China Index rose 0.34%, XPeng increased 2.29%, and iQIYI gained 1.73%.

Marvell Technology (MRVL.US) drops by 8% as earnings beat forecasts, but Wall Street feels Google's major contract is being booked too slowly.

Despite outperforming expectations across the board, Rubrik (RBRK.US) faces a sell-off; Wall Street defends Rubrik, stating its long-term logic remains intact and the market is “missing the forest for the trees”