Asia Markets Dip While Europe Advance, Gold Retreats - Global Markets Today While US Slept

On Monday, February 24, U.S. markets closed mixed as the Nasdaq Composite declined, weighed down by struggling technology stocks amid concerns over AI demand ahead of Nvidia’s earnings.

The S&P 500 fell for a third consecutive session, while the Dow eked out a slight gain. Market uncertainty deepened due to Microsoft’s data center cuts and weak economic indicators, heightening fears of slowing growth and persistent inflation.

In economic data, the Dallas Fed’s Texas manufacturing activity index dropped sharply to -8.3 in February from 14.1 in January, while the Chicago Fed National Activity Index declined to -0.03 in January from a revised 0.18 in December.

Among the S&P 500 sectors, healthcare led to gains, while technology was the biggest laggard. Nvidia was the largest drag on the S&P 500, followed by Broadcom, Amazon, and Microsoft, all closing lower.

The Dow Jones Industrial Average inched up 0.08% to close at 43,461.21, while the S&P 500 declined 0.50% to 5,983.25, and the Nasdaq Composite dropped 1.21% to 19,286.93.

Asia Markets Today

• On Tuesday, Japan’s Nikkei 225 fell 1.44% to 38,225.50, pressured by losses in the Shipbuilding, Paper & Pulp, and Steel sectors.
• Australia’s S&P/ASX 200 declined 0.68% to 8,251.90, weighed down by weakness in Consumer Discretionary, IT, and Materials stocks.
• India’s Nifty 50 edged down 0.12% to 22,526.30, while the Nifty 500 dropped 0.36% to 20,395.20. Gains in Auto, IT, and Consumer Durables stocks were offset by declines in the Metals, Oil and gas, and Real Estate sectors.
• China’s Shanghai Composite slipped 0.80% to 3,346.04, and the Shanghai Shenzhen CSI 300 lost 1.11% to close at 3,925.65.
• Hong Kong’s Hang Seng fell 1.32%, ending at 23,034.02.

Eurozone at 05:30 AM ET

• The European STOXX 50 was up 0.15%.
• Germany’s DAX gained 0.21%.
• France’s CAC rose 0.10%.
• U.K.’s FTSE 100 index traded higher by 0.41%

Commodities at 05:30 AM ET

• Crude Oil WTI was trading higher by 0.25% at $70.88/bbl, and Brent was up 0.12% at $74.40/bbl.
• Oil prices rose for a second day on U.S. sanctions against Iran, tightening supply concerns. Strong global refining margins supported gains, though uncertainty over Chinese demand and upcoming tariffs capped further increases.
• Natural Gas gained 0.05% to $3.984.
• Gold was trading lower by 0.30% at $2,954.81, Silver was down 0.06% to $32.585, and Copper rose 0.33% to $4.5780.     

U.S. Futures at 05:30 AM ET

Dow futures were down 0.08%, S&P 500 futures declined 0.19%, and Nasdaq 100 futures fell 0.35%.

Forex at 05:30 AM ET

• The U.S. dollar index rose by 0.01% to 106.68, the USD/JPY gained by 0.05% to 149.62, and the USD/AUD rose by 0.32% to 1.5800.
• The dollar steadied after Trump’s tariff comments on Mexico and Canada spurred safe-haven demand. Market uncertainty, weaker U.S. economic data, and German political risks kept the dollar’s defensive support intact.

Photo by Pavel Bobrovskiy via Shutterstock