U.S. stock futures were higher on Tuesday, following a volatile start to the week due to tariff concerns. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.2%, 0.02%, and 0.09%, respectively, at 2:54 a.m. EST, March 4.
Monday’s trading session saw a sharp sell-off, with the Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) all down 1.5%, 1.8%, and 2.6%, respectively. The market initially opened higher but then dropped after President Trump confirmed 25% tariffs on Canadian and Mexican imports, and an additional 10% tariff on Chinese goods, ending hopes of further negotiations.
Tech stocks were hit hard, with major players like Nvidia (NVDA), Tesla (TSLA), Microsoft (MSFT), Amazon (AMZN), and Broadcom (AVGO) all down over 2%. The sector is sensitive to international trade and supply chain issues, making it vulnerable to the tariff news.
Looking ahead, investors are awaiting speech from New York Federal Reserve President John Williams later today. Also, traders are now shifting their focus to earnings reports from companies such as ChargePoint (CHPT), AutoZone (AZO), Best Buy (BBY), CrowdStrike (CRWD), Nordstrom (JWN), and Target (TGT) due today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.18%. Simultaneously, WTI crude oil futures are trending lower, hovering near $67.85 per barrel as of the last check.
Elsewhere, European indices are expected to open lower as new U.S. tariffs on Canada, Mexico, and China took effect, further escalating global trade tensions.
Asia-Pacific Markets Traded Mixed on Tuesday
Asia-Pacific indices were mixed today as investors remained cautious amid fears of a global trade war. Today, China introduced tariffs on U.S. goods and other trade measures in response to President Donald Trump’s decision to raise tariffs on all Chinese imports to 20% from 10%.
Notably, Hong Kong’s Hang Seng Index was down 0.12%. Further, Japan’s Nikkei and Topix indices closed lower by 1.2% and 0.71%, respectively. In contrast, China’s Shenzhen Component and Shanghai Composite indices were down 0.28% and 0.22%, respectively.
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