How did contact between the European arrivals and the native peoples of the Americas affect both groups?
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This contact affect both groups in so many ways that we can only scratch the surface in an answer on this site. Let us look at one good and bad impact for each group.
The Native Americans were impacted negatively in that their land was taken from them and huge numbers of them died from the Europeans' diseases. On the other hand, for as long as they remained free, many Native peoples benefitted from European animals like horses and from European technology.
The Europeans were impacted positively in that they gained many things even outside of the land. For example, Native Americans helped Europeans to survive the early years and helped them learn how to thrive in the new lands. On the other hand, contact with the Natives gave many Europeans opportunities to give in to the darker impulses. It allowed them to treat other human beings as if they did not matter and as if they only existed to be used by the Europeans.
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