Global Stocks Slide as Tariff Fears Mount and Tech Leads U.S. Market Drop

Global stocks fell for the first time in three sessions on Wednesday as renewed tariff concerns weighed on investor sentiment. The U.S. dollar climbed, and Wall Street saw a sharp sell-off led by tech stocks, ahead of a press conference from President Donald Trump, who confirmed incoming auto tariffs.

The Dow Jones fell 132.71 points (0.31%) to 42,454.79, the S&P 500 dropped 64.45 points (1.12%) to 5,712.20, and the Nasdaq plunged 372.84 points (2.04%) to 17,899.02. The declines ended a three-day winning streak and put U.S. indexes on track for back-to-back monthly losses for the first time since October 2023.

Durable goods orders unexpectedly rose 0.9% in February, driven by a rush to secure metals ahead of expected tariffs, defying forecasts of a 1% drop. Trump also announced 25% secondary tariffs on countries purchasing Venezuelan oil.

Investor confidence remains shaky. “The likelihood that April 2 will bring policy clarity is low,” said Matt Stucky of Northwestern Mutual Wealth Management, suggesting more trade-related headlines are likely.

The dollar index rose 0.33% to 104.56, with the euro slipping to $1.0751 and the yen weakening to 150.55 per dollar. Sterling dropped to $1.2885 after UK inflation data missed expectations and the finance minister scaled back spending plans.

MSCI’s global stock index fell 0.92% to 845.65, while Europe’s STOXX 600 shed 0.7%, despite optimism around German stimulus measures.

U.S. 10-year Treasury yields climbed to 4.333% amid strong demand for five-year notes. Fed officials reiterated caution on rate cuts due to economic uncertainty.

Oil prices rose, with U.S. crude up 0.94% to $69.65 and Brent gaining 1.05% to $73.79, supported by falling inventories and concerns over global supply amid U.S. threats of sanctions on Venezuelan crude buyers.