Global markets drop as optimism over trade tensions wanes
Global stock markets fell sharply on Wednesday, reversing earlier gains driven by hopes of easing trade tensions. Investor sentiment cooled rapidly, while oil prices rose amid signals that the U.S. may soon announce fresh sanctions on Russia in response to the ongoing conflict in Ukraine.
On Wall Street, all three major indices ended the day in the red, as traders braced for earnings from artificial intelligence giant Nvidia. U.S. Treasury yields also edged higher, reflecting cautious market sentiment.
After markets closed, Nvidia delivered a strong earnings report, surpassing expectations with \$18.8 billion in profit on \$44.1 billion in revenue, despite facing tighter export restrictions.
Meanwhile, minutes from the latest Federal Reserve meeting revealed that American businesses have warned the central bank that President Donald Trump’s tariffs could ultimately raise costs for consumers.
Earlier in the day, major European markets—including London, Paris, and Frankfurt—also closed lower, mirroring declines seen across Asia.
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