Overview

• President Trump confirmed 25% tariffs on imports from Mexico and Canada starting March 4, with an additional 10% tariff on Chinese goods, intensifying fears of a global trade war.
• Asian markets saw significant losses, with Japan's Nikkei falling over 3% and Hong Kong's Hang Seng dropping more than 2%, while U.S. tech stocks continued to retreat after a prolonged rally.
• Nvidia's sharp post-earnings decline highlighted investor concerns about the sustainability of AI-driven growth, further pressuring the tech sector globally.
• Weaker economic data in the U.S. has raised concerns of a slowing economy, complicating the Federal Reserve's efforts to balance inflation and growth risks.
• Safe-haven currencies like the yen and Swiss franc strengthened, while the U.S. dollar hovered near multi-week highs against major trading partners.