U.S. stock indices opened lower, with the Dow down 0.4%, the S&P 500 down 0.3%, and the Nasdaq down 0.2%.

Tesla (TSLA.O) fell 0.9%, facing sales setbacks in multiple European countries. Steel stocks rose broadly, with Cleveland-Cliffs up 20%, Nucor (NUE.N) up 11%, after Trump previously stated plans to double tariffs on steel and aluminum imports.