Asian equities declined Thursday as investors parsed the latest tariff announcements from US President Donald Trump and earnings from Nvidia Corp. failed to impress market participants.
Equity gauges in China and technology stocks in Hong Kong declined while 10-year Treasury yields inched higher.
European equity index futures declined as much as 0.9% after Trump said that his administration would impose tariffs of 25% on the European Union.
The president also said that previously announced levies on Mexico and Canada would come into force on April 2.
Trump’s comments were at times contradictory and sowing confusion as the tariffs on US neighbors were to take effect from next month.
Nvidia shares fell in after-hours trading as the chipmaker delivered good-but-not-great quarterly numbers, leaving investors — who have become accustomed to blowout results — disappointed.
“With Nvidia lacking the spark that it usually brings, probably US stocks will continue to lack a near-term driver and the rotation trade to China/Europe could find more runway,” said Charu Chanana, chief investment strategist at Saxo Markets.
The results are “still not enough to address and calm” the concerns around geopolitics, tariffs and the shifting landscape in AI trade, she said.
