Megacap tech stocks led a cautious stock rebound Wednesday as investors focused on the latest
tariff volleys
and a
cooler-than-expected inflation reading
.
The Dow Jones Industrial Average (
^DJI
) ended the day down 0.2% after reversing course earlier in the session. Meanwhile, the S&P 500 (
^GSPC
) was up about 0.5%, while the Nasdaq Composite (
^IXIC
) increased 1.2%, leading the way higher.
A rebound in Big Tech led the gains, with Nvidia (
NVDA
) popping more than 6% and Tesla (
TSLA
) adding over 7%.
On Wednesday, the
latest data
from the Bureau of Labor Statistics showed that the “core” Consumer Price Index (CPI) — which strips out the more volatile costs of food and gas — rose 3.1% in February, down from 3.3% seen the month prior. This marked the lowest yearly increase in core CPI since April 2021.
But President Trump’s fast-moving tariff policy is front of mind after uncertainty fueled
another volatile session ending in losses
on Tuesday.
Canada has imposed tariffs on $21 billion of US goods in response to Trump’s across-the-board duties on steel and aluminum, which went into effect on Wednesday. The EU earlier made its own
response, placing matching counter-tariffs
on $28 billion in US goods from April.
Read more: The latest on Trump’s tariff plans
LIVE
20 updates
