European stocks opened lower across the board, U.S. Treasury yields rose, and spot gold fell by 1% during the day

On Thursday, the Euro Stoxx 50 index futures contracts opened down 0.9% at one point. Trump stated that a 25% tariff would be imposed on the European Union, and the previously announced tariffs on Mexico and Canada will take effect on April 2. Asian stock markets also generally declined.

• European stocks opened collectively lower, with the German DAX 30 index down 1.10%, the UK FTSE 100 index down 0.32%, the French CAC 40 index down 0.52%, and the Euro Stoxx 50 index down 1%.
• U.S. Treasury bonds fell, with the 10-year Treasury yield currently at 4.29%.
• Spot gold fell by 1% during the day, currently reported at $2885.04 per ounce.

This week, traders have resumed most expectations for two 25 basis point rate cuts by the Federal Reserve this year and a third cut next year. Morgan Stanley's strategists stated that if market expectations push rates down to 3.25%, the 10-year Treasury yield could break 4%. The bank expects that the inflation data to be released on Friday—the January Personal Consumption Expenditures (PCE) price index—will show a slowdown in price growth, which could be a decisive factor.

In the midst of market turbulence, NVIDIA's earnings report was supposed to be a shot in the arm. However, while the chipmaker's quarterly performance was good, it failed to meet the "explosive" growth that investors had become accustomed to. After the earnings report was released, NVIDIA's stock price fell in after-hours trading. Saxo Markets Chief Investment Strategist Charu Chanana stated:

"The market just breathed a sigh of relief because NVIDIA didn't have any major issues, but this is not the kind of sustainable momentum the market was hoping for. Due to NVIDIA's lack of the usual spark, the U.S. stock market may continue to lack recent driving forces, while rotation trades towards China and Europe may have more room."

European stocks opened collectively lower, with the German DAX 30 index down 1.10%, the UK FTSE 100 index down 0.32%, the French CAC 40 index down 0.52%, and the Euro Stoxx 50 index down 1%.

U.S. Treasury bonds fell, with the 10-year Treasury yield currently at 4.29%.

Spot gold fell by 1% during the day, currently reported at $2885.04 per ounce.

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