Market Update
U.S. Indexes Face Headwinds as AI-Related Disruptions, Trade Policy Chaos, and Iran Tensions Weighed On Sentiment
Barry Adams
24 Feb, 2026
New York City
Stocks lacked momentum on Wall Street amid increasing headwinds for high-flying tech stocks.
The S&P 500 Index decreased 0.2%, and the tech-focused Nasdaq Composite eased 0.2% as investors struggled to understand the impact of artificial intelligence on the software industry and a wider labor force.
Benchmark indexes dropped more than 1% in Monday's trading amid worries that artificial intelligence could disrupt several industries, lingering uncertainty surrounding the U.S. trade policy, and rapidly escalating tensions between the U.S. and Iran.
Market sentiment remained depressed for the second consecutive session this week, and the U.S. president imposed a 15% blanket tariff on imported goods for 150 days.
Trump's on-again, off-again, and on-again tariffs, using different pretexts, have failed to shrink the U.S. trade deficit, driven trade allies to diversify, and contributed to U.S. inflation.
U.S. Movers
Home Depot jumped 3.2% to $389.0 after the home improvement retailer reported better-than-expected fourth-quarter results.
Sales in the fourth quarter ending on February 1 decreased from a year ago by $1.5 billion, or 3.8%, to $38.2 billion from $39.7 billion; net earnings fell 14% to $2.6 billion from $2.9 billion; and diluted earnings per share decreased to $2.58 from $3.02 a year ago.
The fourth quarter of fiscal 2025 consisted of 13 weeks compared with 14 weeks for the prior fiscal year, and the 14th week in fiscal 2024 added approximately $2.5 billion of sales to the fourth quarter and the year.
The 14th week in fiscal 2024 added approximately $0.30 to diluted earnings per share to the fourth quarter and the year.
Comparable sales for the fourth quarter of fiscal 2025 increased 0.4%, and comparable sales in the U.S. increased 0.3%.
U.S. Indexes Face Headwinds as AI-Related Disruptions, Trade Policy Chaos, and Iran Tensions Weighed On Sentiment
Barry Adams
24 Feb, 2026
New York City
Stocks lacked momentum on Wall Street amid increasing headwinds for high-flying tech stocks.
The S&P 500 Index decreased 0.2%, and the tech-focused Nasdaq Composite eased 0.2% as investors struggled to understand the impact of artificial intelligence on the software industry and a wider labor force.
Benchmark indexes dropped more than 1% in Monday's trading amid worries that artificial intelligence could disrupt several industries, lingering uncertainty surrounding the U.S. trade policy, and rapidly escalating tensions between the U.S. and Iran.
Market sentiment remained depressed for the second consecutive session this week, and the U.S. president imposed a 15% blanket tariff on imported goods for 150 days.
Trump's on-again, off-again, and on-again tariffs, using different pretexts, have failed to shrink the U.S. trade deficit, driven trade allies to diversify, and contributed to U.S. inflation.
U.S. Movers
Home Depot jumped 3.2% to $389.0 after the home improvement retailer reported better-than-expected fourth-quarter results.
Sales in the fourth quarter ending on February 1 decreased from a year ago by $1.5 billion, or 3.8%, to $38.2 billion from $39.7 billion; net earnings fell 14% to $2.6 billion from $2.9 billion; and diluted earnings per share decreased to $2.58 from $3.02 a year ago.
The fourth quarter of fiscal 2025 consisted of 13 weeks compared with 14 weeks for the prior fiscal year, and the 14th week in fiscal 2024 added approximately $2.5 billion of sales to the fourth quarter and the year.
The 14th week in fiscal 2024 added approximately $0.30 to diluted earnings per share to the fourth quarter and the year.
Comparable sales for the fourth quarter of fiscal 2025 increased 0.4%, and comparable sales in the U.S. increased 0.3%.
Japan Indexes Rebounded Overlooking U.S. Trade Policy Uncertainty and AI Worries
Akira Ito
24 Feb, 2026
Tokyo
Japan's benchmark indexes rebounded on Tuesday, and investors returned from a three-day holiday.
The Nikkei 225 Stock Average increased 0.9%, the broader Topix advanced 0.3%, and the yen hovered at 155.05 against the U.S. dollar.
Stocks in Tokyo overlooked overnight weakness in New York trading driven by growing concerns about the AI-related disruptions, deepening uncertainty surrounding the U.S. trade policy, and rapidly escalating tensions between the U.S. and Iran.
The U.S. Supreme Court struck down emergency tariffs imposed by the Trump administration on Friday, injecting another wave of uncertainty into global markets.
Moreover, the U.S. president announced a 15% global tariff under the pretext of "payment deficit," valid for 150 days, requiring approval from Congress.
The high court ruling prompted officials in Tokyo to seek clarity from Washington about the impact of the decisions on Japanese firms and sought U.S. commitment in trade agreements.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 0.9% to 57,339.78, and the broader TOPIX Index added 0.3% to 3,818.72.
Technology stocks led gainers in Tokyo trading, overcoming overnight jitters in New York.
Kioxia Holdings gained 8.3% to ¥22,270.0, Fujikura Ltd. soared 10% to ¥25,190.0, and Advantest Corp. increased 4.2% to ¥26,545.0.
Japan Indexes Rebounded Overlooking U.S. Trade Policy Uncertainty and AI
Akira Ito
24 Feb, 2026
Tokyo
Japan's benchmark indexes rebounded on Tuesday, and investors returned from a three-day holiday.
The Nikkei 225 Stock Average increased 0.9%, the broader Topix advanced 0.3%, and the yen hovered at 155.05 against the U.S. dollar.
Stocks in Tokyo overlooked overnight weakness in New York trading driven by growing concerns about the AI-related disruptions, deepening uncertainty surrounding the U.S. trade policy, and rapidly escalating tensions between the U.S. and Iran.
The U.S. Supreme Court struck down emergency tariffs imposed by the Trump administration on Friday, injecting another wave of uncertainty into global markets.
Moreover, the U.S. president announced a 15% global tariff under the pretext of "payment deficit," valid for 150 days, requiring approval from Congress.
The high court ruling prompted officials in Tokyo to seek clarity from Washington about the impact of the decisions on Japanese firms and sought U.S. commitment in trade agreements.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 0.9% to 57,339.78, and the broader TOPIX Index added 0.3% to 3,818.72.
Technology stocks led gainers in Tokyo trading, overcoming overnight jitters in New York.
Kioxia Holdings gained 8.3% to ¥22,270.0, Fujikura Ltd. soared 10% to ¥25,190.0, and Advantest Corp. increased 4.2% to ¥26,545.0.
AI-Linked Stocks Faced Another Down Day In Hong Kong, Mainland Indexes Raced Ahead In Year of the Horse
Li Chen
24 Feb, 2026
Hong Kong
Stocks in Hong Kong and mainland China diverged as artificial intelligence worries resurfaced.
The Hang Seng Index dropped nearly 2%, but the mainland-focused CSI 300 Index increased 1.3%.
Benchmark indexes in New York in overnight trading fell more than 1% amid worries capital-intensive artificial infrastructure investment could lead to larger-than-anticipated job losses over the next three years.
The job losses worries added to the concerns surrounding lagging returns on AI infrastructure investments, driving down market indexes in New York and Europe.
Market sentiment remained positive in mainland trading as investors returned from a weeklong holiday to celebrate Lunar New Year.
Investors bid up stocks in the hopes that export-driven companies' earnings growth is likely to surpass market expectations despite sweeping U.S. goods tariff chaos.
China Indexes and Stocks
The Hang Seng Index decreased 1.9% to 26,560.57, and the mainland-focused CSI 300 Index added 1.3% to 4,722.51.
Artificial intelligence-linked stocks led market decliners in Hong Kong trading on Tuesday.
SMIC decreased 1.7% to HK $69.90, Baidu Inc. dropped 3.1% to HK $129.10, Alibaba Group fell 2.7% to HK $147.70, and Tencent Holdings dropped 3.4% to HK $519.50.
AI-Linked Stocks Faced Another Down Day In Hong Kong, Mainland Indexes Raced Ahead In Year of the Horse
Li Chen
24 Feb, 2026
Hong Kong
Stocks in Hong Kong and mainland China diverged as artificial intelligence worries resurfaced.
The Hang Seng Index dropped nearly 2%, but the mainland-focused CSI 300 Index increased 1.3%.
Benchmark indexes in New York in overnight trading fell more than 1% amid worries capital-intensive artificial infrastructure investment could lead to larger-than-anticipated job losses over the next three years.
The job losses worries added to the concerns surrounding lagging returns on AI infrastructure investments, driving down market indexes in New York and Europe.
Market sentiment remained positive in mainland trading as investors returned from a weeklong holiday to celebrate Lunar New Year.
Investors bid up stocks in the hopes that export-driven companies' earnings growth is likely to surpass market expectations despite sweeping U.S. goods tariff chaos.
China Indexes and Stocks
The Hang Seng Index decreased 1.9% to 26,560.57, and the mainland-focused CSI 300 Index added 1.3% to 4,722.51.
Artificial intelligence-linked stocks led market decliners in Hong Kong trading on Tuesday.
SMIC decreased 1.7% to HK $69.90, Baidu Inc. dropped 3.1% to HK $129.10, Alibaba Group fell 2.7% to HK $147.70, and Tencent Holdings dropped 3.4% to HK $519.50.
U.S. President Raised Global Tariffs After Supreme Court Invalidated Trump's Trade Tax
Barry Adams
23 Feb, 2026
New York City
Stocks on Wall Street faced headwinds as investors took refuge in safe haven assets after the U.S. president imposed 15% global tariffs.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite dropped 0.6% following heightened uncertainty surrounding the U.S. trade policy.
The U.S. Supreme Court late Friday delivered a widely anticipated decision on the legality of the U.S. president's global tariffs.
In a 6-3 ruling, the high court invalidated most of Trump's tariffs, rebuked the president for overreaching his authority, and urged the Congress to decide on the scope and level of tariffs.
The court's ruling delivered a stinging blow to the key pillar of Trump's trade policy and left unresolved how the $135 billion of tariffs collected will be reimbursed.
The U.S. president announced a new 15% global tariff over the weekend, but that tariff is limited in scope and automatically expires after 150 days, unless extended by the U.S. Congress.
Donald Trump's reaction to his loss in the Supreme Court raised prospects of another round of chaos, as businesses feared a murky trade climate and uncertainty for at least several months.
The persistently chaotic management of U.S. trade policy by the Trump administration has kept foreign investors on edge for a year, driving them away to other markets in Asia and Europe.
Moreover, gold jumped 0.8% to $5,179 an ounce, silver gained 1.8% to $86.11, and the dollar index inched lower to a one-month low of 97.65.
U.S. Movers
Domino's Pizza jumped 5.8% to $407.0 after the pizza delivery company reported better-than-expected fourth-quarter results.
Revenues increased to $4.9 billion from $4.7 billion, net income advanced to $601.7 million from $584.1 million, and diluted earnings per share rose to $17.57 from $16.59 a year ago.
U.S. same-store sales growth for the fourth quarter accelerated to 3.7% from 0.4%, and for fiscal 2025 inched lower to 3.0% from 3.2% a year ago, respectively.
U.S. President Raised Global Tariffs After Supreme Court Invalidated Trump's Trade Tax
Barry Adams
23 Feb, 2026
New York City
Stocks on Wall Street faced headwinds as investors took refuge in safe haven assets after the U.S. president imposed 15% global tariffs.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite dropped 0.6% following heightened uncertainty surrounding the U.S. trade policy.
The U.S. Supreme Court late Friday delivered a widely anticipated decision on the legality of the U.S. president's global tariffs.
In a 6-3 ruling, the high court invalidated most of Trump's tariffs, rebuked the president for overreaching his authority, and urged the Congress to decide on the scope and level of tariffs.
The court's ruling delivered a stinging blow to the key pillar of Trump's trade policy and left unresolved how the $135 billion of tariffs collected will be reimbursed.
The U.S. president announced a new 15% global tariff over the weekend, but that tariff is limited in scope and automatically expires after 150 days, unless extended by the U.S. Congress.
Donald Trump's reaction to his loss in the Supreme Court raised prospects of another round of chaos, as businesses feared a murky trade climate and uncertainty for at least several months.
The persistently chaotic management of U.S. trade policy by the Trump administration has kept foreign investors on edge for a year, driving them away to other markets in Asia and Europe.
Moreover, gold jumped 0.8% to $5,179 an ounce, silver gained 1.8% to $86.11, and the dollar index inched lower to a one-month low of 97.65.
U.S. Movers
Domino's Pizza jumped 5.8% to $407.0 after the pizza delivery company reported better-than-expected fourth-quarter results.
Revenues increased to $4.9 billion from $4.7 billion, net income advanced to $601.7 million from $584.1 million, and diluted earnings per share rose to $17.57 from $16.59 a year ago.
U.S. same-store sales growth for the fourth quarter accelerated to 3.7% from 0.4%, and for fiscal 2025 inched lower to 3.0% from 3.2% a year ago, respectively.
Hong Kong Indexes Soared 2%, U.S. Tariffs Chaos Entered the Next Phase
Li Chen
23 Feb, 2026
Hong Kong
Stocks in Hong Kong soared as investors increased exposure to China-focused companies amid deepening trade uncertainty in the U.S.
The Hang Seng Index increased 2.3%, and the mainland-based markets remained shut for the Lunar New Year celebration.
The U.S. Supreme Court late Friday delivered a widely anticipated decision on the legality of the U.S. president's global tariffs.
The high court invalidated most of Trump's tariffs, rebuked the president for overreaching his authority, and urged the Congress to decide on the scope and level of tariffs.
The court's ruling delivered a stinging blow to the key pillar of Trump's trade policy and left unresolved how the $135 billion of tariffs collected will be reimbursed.
The U.S. president announced a new 15% global tariff over the weekend, but that tariff is limited in scope and automatically expires after 150 days, unless extended by the U.S. Congress.
The persistently chaotic management of U.S. trade policy by the Trump administration has kept foreign investors on edge for a year, driving them away to other markets in Asia and Europe.
On Monday, international investors avoided increasing exposure to the increasingly volatile stocks and directed fresh capital to markets in Asia and Europe.
China Indexes and Stocks
The Hang Seng Index increased 2.2% to 27,017.88, and the mainland China markets, which have been closed since February 13, are scheduled to reopen on Tuesday.
Alibaba Group rose 3.6% to HK $152.40, Tencent Holdings increased 0.8% to HK $539.50, and Techtronic Industries advanced 3.5% to HK $123.80.
Zijin Gold International soared 6.2% to HK $229.0, and Zijin Mining Group advanced 5.3% to HK $44.88.
Hong Kong Indexes Soared 2%, U.S. Tariffs Chaos Entered the Next Phase
Li Chen
23 Feb, 2026
Hong Kong
Stocks in Hong Kong soared as investors increased exposure to China-focused companies amid deepening trade uncertainty in the U.S.
The Hang Seng Index increased 2.3%, and the mainland-based markets remained shut for the Lunar New Year celebration.
The U.S. Supreme Court late Friday delivered a widely anticipated decision on the legality of the U.S. president's global tariffs.
The high court invalidated most of Trump's tariffs, rebuked the president for overreaching his authority, and urged the Congress to decide on the scope and level of tariffs.
The court's ruling delivered a stinging blow to the key pillar of Trump's trade policy and left unresolved how the $135 billion of tariffs collected will be reimbursed.
The U.S. president announced a new 15% global tariff over the weekend, but that tariff is limited in scope and automatically expires after 150 days, unless extended by the U.S. Congress.
The persistently chaotic management of U.S. trade policy by the Trump administration has kept foreign investors on edge for a year, driving them away to other markets in Asia and Europe.
On Monday, international investors avoided increasing exposure to the increasingly volatile stocks and directed fresh capital to markets in Asia and Europe.
China Indexes and Stocks
The Hang Seng Index increased 2.2% to 27,017.88, and the mainland China markets, which have been closed since February 13, are scheduled to reopen on Tuesday.
Alibaba Group rose 3.6% to HK $152.40, Tencent Holdings increased 0.8% to HK $539.50, and Techtronic Industries advanced 3.5% to HK $123.80.
Zijin Gold International soared 6.2% to HK $229.0, and Zijin Mining Group advanced 5.3% to HK $44.88.