Asia And Europe Markets Decline; Oil Falls As OPEC+ Confirms Output Hike - Global Markets Today While US Slept

On Monday, March 3rd, U.S. markets closed sharply lower after Trump announced 25% tariffs on Canada and Mexico, with the S&P 500 seeing its worst drop since December. Stocks had already slipped after an ISM survey showed declining manufacturing PMI. Investors, expecting a delay, reacted as markets priced in the tariff impact.

Related: Markets Tank After Trump Confirms More Tariffs: Here’s What Wall Street Is Saying

The New Orders Index contracted to 48.6%, while the Production Index expanded to 50.7%. Prices surged to 62.4% due to tariff-driven costs. Employment fell to 47.6%, indicating workforce reductions. New Export Orders dipped to 51.4%, while Imports rose to 52.6%.

Most S&P 500 sectors fell, led by tech, energy, and consumer discretionary stocks, while real estate and consumer staples gained.

The Dow Jones Industrial Average fell 1.348% to close at 43,191.24, the S&P 500 declined 1.76% to 5,849.72, and the Nasdaq Composite was down 2.64% to 18,350.19.

Asia Markets Today

• On Tuesday, Japan’s Nikkei 225 declined 1.34% to 37,318.50, led by losses in the Fishery, Transportation Equipment, and Chemical sectors.
• Australia’s S&P/ASX 200 slid 0.58%, closing at 8,198.10, led by losses in the Energy, Utilities and Resources sectors.
• India’s Nifty 50 was down 0.18% to 22,080.30, led by losses in the Auto, Technology, and Fast-Moving Consumer Goods sectors, while the Nifty 500 gained 0.06% to 19,909.40.
• China’s Shanghai Composite gained 0.22% to 3,324.21, and the Shanghai Shenzhen CSI 300 fell 0.08% to 3,885.22.
• Hong Kong’s Hang Seng fell 0.28%, ending the session at 22,941.77.

Eurozone at 05:30 AM ET

• The European STOXX 50 was down 1.85%.
• Germany’s DAX declined 1.98%.
• France’s CAC fell 1.14%.
• U.K.’s FTSE 100 index traded lower by 0.29%

Commodities at 05:30 AM ET

• Crude Oil WTI was trading lower by 0.80% at $67.82/bbl, and Brent was down 1.10% at $70.82/bbl.
• Oil prices fell as OPEC+ confirmed an April output hike, and U.S. tariffs on Canada, Mexico, and China took effect, prompting retaliatory measures. Trump’s pause on Ukraine aid also raised speculation of potential Russian sanctions relief, further pressuring crude markets.
• Natural Gas declined 0.46% to $4.102.
• Gold was trading higher by 0.80% at $2,924.29, Silver was up 0.47% to $32.465, and Copper slipped 1.62% to $4.5322.

U.S. Futures at 05:30 AM ET

Dow futures were down 0.15%, S&P 500 futures fell 0.16% and Nasdaq 100 futures slid 0.04%.

Forex at 05:30 AM ET

• The U.S. Dollar Index slipped 0.26% to 106.27, USD/JPY was down 0.43% to 148.85, and USD/AUD rose 0.02% to 1.6069.
• The U.S. dollar fell Tuesday amid trade tensions and economic slowdown fears despite new tariffs on Canada, Mexico, and China.
• Trump’s 25% tariffs on Canada and Mexico and increased duties on Chinese goods took effect, triggering retaliatory measures. China imposed new tariffs and restrictions, while Canada and Mexico planned countermeasures. Markets reacted negatively, fearing economic disruptions, rising costs, and recession risks. Trump’s aggressive trade policies continue reshaping global commerce.

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