Stock futures were little changed Tuesday after the S&P 500 posted a three-day losing streak, with traders weighing concerns around global trade. Futures tied to the S&P 500 inched up less than 0.1%, while the Nasdaq-100 futures flickered near the flatline. Futures tied to the Dow Jones Industrial Average added 0.2%. Bitcoin prices fell below $90,000 overnight, marking their lowest their lowest level in three months. The blue chip coin is trading almost 20% below its all-time high reached on President Donald Trump’s inauguration day. On Monday, shares of key tech companies dragged down the S&P 500 and the Nasdaq Composite to session losses. That decline among tech names also pulled the Nasdaq Composite into negative territory year to date. “Investors in the market more broadly, they sort of almost want to believe that the AI trade is over. They’re looking for evidence [and] reasons to doubt,” Doug Clinton, a managing partner at Deepwater Asset Management, said on CNBC’s “Closing Bell” on Monday. “From our perspective, the AI trade is still real. I don’t think this boom is over. I still think we have two to four years to go.” Investors are also mulling President Donald Trump’s latest remarks on trade. He said that tariffs on imports from Canada and Mexico “will go forward” after the current 30-day moratorium ends. Wall Street also turned its attention to key earnings reports. Home Depot reported fourth-quarter figures that beat analyst expectations, but the stock shed about 2% in the premarket. Nvidia is set to report earnings Wednesday after the bell. On the economic front, investors are turning their attention to the latest U.S. consumer confidence data due out at 10 a.m. ET. Economists polled by Dow Jones are expecting the Conference Board’s consumer confidence index to show a reading of 102.3 for February, less than the previous month’s reading of 104.1. The report comes ahead of a slew of other economic data releases later in the week, including January’s personal consumption expenditures price index reading Friday. The PCE is the Federal Reserve’s preferred inflation gauge. The 10-year Treasury yield dropped to its lowest level since December as concerns about the economy weighed upon traders. The yield on the benchmark 10-year Treasury was 6 basis points lower at 4.331%, and the 2-year Treasury yield slipped nearly 4 basis points to 4.123%. Asia-Pacific markets traded lower Tuesday after Wall Street fell overnight as tariff threats by U.S. President Donald Trump stoked a risk-off mood, while investors also assessed the rate decision by the Bank of Korea. Japan’s Nikkei 225 led losses in the region, down more than 1% to close at 38,237.79, while the Topix fell 0.43% to close at 2,724.7. Japan’s major trading houses, however, logged sharp gains on Warren Buffett’s plans to increase Berkshire Hathaway’s stake in the conglomerates. South Korea’s Kospi traded 0.57% lower to 2,630.29 while the small-cap Kosdaq fell 0.50% to 769.43. South Korea’s central bank expectedly cut rates to 2.75% from 3%, as it strives to stimulate a slowing economy. The Korean won marginally weakened to 1,430.1 against the dollar. Hong Kong’s Hang Seng Index fell 1.36% in its last hour of trade while mainland China’s CSI 300 dipped 1.11% to 3,925.65 amid escalating trade tensions with the U.S. The Hang Seng Tech index pared losses to trade flat. Australia’s S&P/ASX 200 fell 0.68% to close at 8,251.9. Oil prices were steady on Tuesday, after a bump the previous day when fresh U.S. sanctions imposed on Iran increased concerns that supply might tighten, as global refining margins remained strong. Brent crude futures were down 5 cents to $74.73 a barrel. U.S. West Texas Intermediate crude futures were up 2 cents to $70.72 a barrel. Both contracts gained in Monday’s session after a $2 drop last Friday. Gold prices hovered near an all-time-high on Tuesday, as fears of a trade war and instability amid U.S. President Donald Trump’s tariff plans drove safe-haven flows. Spot gold fell 0.4% to $2,940.03 an ounce, after reaching $2,956.15 on Monday — its eleventh record high this year. U.S. gold futures declined 0.3% to $2,953.50.
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