Asian stocks wavered on Tuesday as investors weighed the prospect of narrower-than-feared U.S. tariffs. The dollar hovered near three-week highs after upbeat economic data. Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan.
Relief in the markets was short-lived as skepticism and uncertainty still grip investors. The dollar rose to a three-week high, buoyed by strong economic data. Meanwhile, oil prices remained steady after President Trump signaled potential penalties for Venezuelan oil buyers.
This market movement comes amid continuing concern over global trade tariffs and their potential economic impact. Investors remain cautious as they navigate the complexities of international trade policies and their fluctuations.
Asian stocks show uncertainty amid tariffs
US stock futures nudged lower on Tuesday after a solid day in the green for the primary gauges. Futures on the Dow Jones Industrial Average and the benchmark S&P 500 inched down 0.1%, while contracts on the tech-heavy Nasdaq 100 slipped 0.2%. Investors are treading carefully regarding the scope of Trump’s upcoming tariffs.
Signs suggest the administration could scale back duties expected on April 2. However, Trump has indicated that fresh tariffs on the pharmaceutical and automotive sectors are still due in the “near future.” Investors will be eyeing key indicators as the day progresses, including readings on consumer confidence and February’s new home sales. Additionally, quarterly earnings reports from Lululemon, GameStop, and Dollar Tree are highly anticipated, with GameStop set to headline Tuesday’s releases. In related news, Tesla continues to struggle in Europe’s growing EV market as February sales slumped.
This marks the second consecutive month that Tesla has experienced a significant drop in its European market share. Stay tuned for further updates as investors navigate these evolving market conditions.
Photo by; Rostyslav Savchyn on Unsplash
