Stocks, Dollar Drop as Trade Jitters Hit Sentiment: Markets Wrap

smd[)kt)u{ucgylwg67k]l]2_media_dl_1.png BloombergArticle content(Bloomberg) — Stocks and the dollar fell amid uncertainty over the scope of future US trade policy, clouding sentiment and raising the prospect of renewed volatility.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentS&P 500 futures dropped 0.6% as investors assessed the possible fallout from a new 15% global tariff after the Supreme Court struck down President Donald Trump’s emergency levies. Currency traders sought refuge in the Swiss franc and yen. Gold headed for the highest level this month. Bitcoin briefly slid below $65,000.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe tariff ruling is adding fresh uncertainty to markets already unsettled by concerns over artificial intelligence disruption and US-Iran tensions. Investors will also watch Trump’s State of the Union address on Tuesday for trade and other policy priorities ahead of this year’s mid-term elections, as well as Nvidia Corp.’s earnings on Wednesday.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“Markets quickly realized that the ruling might not change much in the near term and will rather increase uncertainties,” said Stephan Kemper, chief investment strategist at BNP Paribas Wealth Management. “Donald Trump is not known to avoid a fight or give up easily.”Article contentEuropean stocks dipped 0.3%, led by losses in the technology sector. Nasdaq 100 contracts fell 0.7%. Tech stocks led gains in Asia amid hopes the ruling will be particularly beneficial for two of the region’s biggest economies — China and India — which were hit the hardest by Trump’s tariff onslaught. Treasuries were little changed.Article content“Global trade uncertainty is back as an issue for investors and that’s bad news for US assets. The dollar’s slide has the potential to extend, and the S&P 500’s underperformance relative to peers will become more entrenched as investors price in the impact.”Article contentArticle content—Garfield Reynolds, MLIV Asia Team Leader. Click here for the full analysis.Article contentCorporate Highlights:Article contentChairman Chey Tae-won of SK Hynix Inc.’s parent SK Group pledged to grow production of AI memory chips to meet a surge in demand from the global data center buildout.Enel SpA plans to deepen its commitments in the US and Europe over the next three years, with a fresh wave of investments in renewable energy projects such as wind power and battery storage.Article contentStocksArticle contentThe Stoxx Europe 600 fell 0.3% as of 8:28 a.m. London timeS&P 500 futures fell 0.5%Nasdaq 100 futures fell 0.7%Futures on the Dow Jones Industrial Average fell 0.4%The MSCI Asia Pacific Index rose 0.6%The MSCI Emerging Markets Index rose 1%Article contentCurrenciesArticle contentThe Bloomberg Dollar Spot Index fell 0.2%The euro rose 0.3% to $1.1818The Japanese yen rose 0.3% to 154.64 per dollarThe offshore yuan rose 0.2% to 6.8831 per dollarThe British pound rose 0.3% to $1.3518Article contentCryptocurrenciesArticle contentBitcoin fell 2.8% to $65,687.93Ether fell 3.4% to $1,883.66Article contentBondsArticle contentThe yield on 10-year Treasuries was little changed at 4.08%Germany’s 10-year yield was little changed at 2.73%Britain’s 10-year yield was little changed at 4.35%Article contentCommoditiesArticle contentBrent crude fell 0.9% to $71.08 a barrelSpot gold rose 0.4% to $5,129.23 an ounceArticle contentThis story was produced with the assistance of Bloomberg Automation.Article contentThis story was produced with the assistance of Bloomberg Automation.Article contentTrending 'Big challenges' remain as oilsands majors, Ottawa and Alberta step up talks ahead of April 1 deadline Energy These are the TSX stocks that could be winners from Mark Carney's defence industrial strategy Investor What's new in 2025 for Canadians filing tax returns Taxes What you need to know about filing to the CRA this year as tax season looms Personal Finance Cuba-Bound Tanker Carrying Russian Fuels to Test Trump Blockade PMN Business Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. 'Big challenges' remain as oilsands majors, Ottawa and Alberta step up talks ahead of April 1 deadline Energy These are the TSX stocks that could be winners from Mark Carney's defence industrial strategy Investor What's new in 2025 for Canadians filing tax returns Taxes What you need to know about filing to the CRA this year as tax season looms Personal Finance Cuba-Bound Tanker Carrying Russian Fuels to Test Trump Blockade PMN Business