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Global stocks slipped as investors awaited more clarity on US tariff plans and the economic outlook before President Donald Trump’s April 2 deadline to impose a fresh trade levies. In premarket trading, shares in Tesla Inc. and Nvidia Corp. edged lower. Video game retailer GameStop Corp. jumped 12% after it said its board approved adding Bitcoin as a treasury reserve asset.
Nvidia stock was edging down early on Tuesday. The chip maker doesn’t look to have fully escaped the threat of tariffs on semiconductors. Nvidia shares were down 1.1% at $120.13 in premarket trading, while futures tied to the benchmark S&P 500 index were dropping 0.2%. The stock rose 3.2% on Monday.
Stocks struggled to gain steam last week as uncertainty around President Trump's tariff plans continued to loom over markets. The S&P 500 popped about 0.5% while the Dow Jones Industrial rose more than 1%. The tech-heavy Nasdaq Composite added nearly 0.2%. This week, a reading of the Fed's preferred inflation gauge will highlight the economic releases.
President Xi Jinping’s government is set to welcome a US senator close to Donald Trump for talks in China, as the world’s largest economies try to move forward trade negotiations that have stalled at lower levels.
Fed Chair Jerome Powell said Wednesday that he doesn't know anyone who is confident in their forecast these days. But what he did say with assurance was that the central bank will be ready to respond once the tariff uncertainty becomes enacted policy. In a message that reassured the market, and to a certain extent the White House, Powell appeared to take lessons from the Fed's pandemic response
Google’s owner, Alphabet, has agreed to buy the cybersecurity group Wiz for $32 billion (£24.7 billion), the biggest acquisition it has ever made. The search company’s purchase of the Israeli startup comes as Google attempts to catch its competitors Microsoft and Amazon in the competitive cloud services market.