Asia Market Mixed, Europe Slides On Tariff Plans; Crude Oil Climbs As Trump Reverses Chevron's Venezuela License - Global Markets Today While US Slept

On Wednesday, February 26, U.S. markets closed mixed amid tariff concerns, while strong earnings and a U.S.-Ukraine minerals deal lifted European shares to record highs. Nvidia gained on strong results despite skepticism over AI investments. Meanwhile, the House passed Trump’s tax-cut plan, and U.S. home sales declined due to persistently high mortgage rates.

In economic data, U.S. mortgage applications fell by 1.2% for the week ending February 21, while crude oil inventories dropped 2.332 million barrels, contrary to expectations of a gain. In January, new home sales declined 10.5% to 657,000, and building permits fell 0.6% to 1.473 million, signaling weakness in the housing market.

S&P sectors were mixed, with tech gains offsetting losses in healthcare and consumer staples. Nvidia’s strong earnings capped a better-than-expected reporting season.

The Dow Jones Industrial Average fell 0.43% to close at 43,433.12, while the S&P 500 inched up 0.01% to 5,956.06, and the Nasdaq Composite gained 0.26% to 19,075.26.

Asia Markets Today

• On Thursday, Japan’s Nikkei 225 rose 0.30% to 38,262.00, driven by gains in the Marine Transport, Trading, and Pharmaceutical sectors.
• Australia’s S&P/ASX 200 gained 0.33%, closing at 8,268.20, led by strength in the Gold, Consumer Staples, and Metals & Mining sectors.
• India’s Nifty 50 declined 0.16% to 22,512.40, while the Nifty 500 fell 0.68% to 20,279.75. Gains in the Metals, IT, and Green Energy sectors were outweighed by losses in Real Estate, Power, and Capital Goods.
• China’s Shanghai Composite edged up 0.23% to 3,388.06, while the Shanghai Shenzhen CSI 300 rose 0.21% to 3,968.12.
• Hong Kong’s Hang Seng slipped 0.29%, ending at 23,718.29.
• China urged the U.S. to halt its copper tariff probe, warning of retaliation. Trump’s investigation under Section 232 aims to rebuild U.S. copper production, but China claims the move disrupts global trade stability.

Eurozone at 05:30 AM ET

• The European STOXX 50 was down 0.76%.
• Germany’s DAX declined 0.99%.
• France’s CAC slid 0.28%.
• U.K.’s FTSE 100 index traded higher by 0.17%
• European markets fell after Trump announced a 25% EU tariff.

Commodities at 05:30 AM ET

• Crude Oil WTI was trading higher by 0.92% at $69.25/bbl, and Brent was up 0.90% at $72.72/bbl.
• Oil prices rose after Trump reversed Chevron’s Venezuela license, reviving supply concerns. Brent and WTI edged up after recent losses driven by rising fuel inventories and Russia-Ukraine peace talks.
• Natural Gas gained 0.20% to $3.967.
• Gold was trading lower by 0.85% at $2,905.60, Silver was down 0.43% to $32.133, and Copper rose 0.76% to $4.6215.     

U.S. Futures at 05:30 AM ET

Dow futures were up 0.23%, S&P 500 futures gained 0.56%, and Nasdaq 100 futures rose 0.54%.

Forex at 05:30 AM ET

The U.S. dollar index rose by 0.14% to 106.65, the USD/JPY rose by 0.58% to 149.87, and the USD/AUD rose by 0.17% to 1.5882.

The U.S. dollar firmed but remained near an 11-week low amid Trump’s tariff threats on Europe and delays for Mexico and Canada.

Photo by Pavel Bobrovskiy via Shutterstock