The Dow Jones Industrial Average (DJIA) fell by approximately 200 points on Wednesday, underperforming other U.S. equity indexes as renewed tariff threats from former President Donald Trump unsettled investors. Market sentiment remains cautious ahead of Nvidia’s (NVDA) highly anticipated fourth-quarter earnings report, set to be released after the market close.
Trump reignited trade tensions by announcing plans to impose a 25% tariff on European goods, including cars and other products. He also reaffirmed that tariffs on Canadian crude oil and lumber, along with broader import taxes on Canada and Mexico, will take effect on April 2. However, investors remain wary as details of the proposed tariffs remain scarce.
Nvidia shares rose around 2% on Wednesday, with investors bracing for the company’s earnings report, which could serve as a key indicator for the AI-driven tech rally. Market expectations have soared, with investors seeking triple-digit profit growth fueled by AI demand. Nvidia was last trading near $360 per share, with its results likely to set the tone for the broader tech sector in the coming sessions.
From a technical perspective, the Dow Jones touched a three-day high near 43,860 before retreating. The index remains in a near-term consolidation pattern, with a key technical floor around 43,200. The recent rejection from the 50-day Exponential Moving Average (EMA) signals continued bearish pressure, leaving the index vulnerable to further downside if sentiment does not improve.
