Stock futures rebounded from a three-week rout on Wednesday after a soft inflation report eased concerns about the economy and as investors snapped up beaten-up technology shares. Futures tied to the Dow Jones Industrial Average advanced 312 points, or 0.8% following a loss of 1,300 points the last two days. S&P 500 futures were 1.2% higher, a day after the benchmark closed inches away from a 10% correction. Nasdaq 100 futures gained around 1.7% as Nvidia and Tesla climbed in the premarket. The consumer price index, a broad measure of costs across the U.S. economy, increased 0.2% for the month, putting the annual inflation rate at 2.8%. This was lower than the respective Dow Jones estimates for 0.3% and 2.9%. Core CPI, which excludes volatile food and energy prices, rose 0.2% on the month and 3.1% for the past 12 months, both below expectations. Part of the reason for the recent sell-off has been concern that President Donald Trump’s volatile trade policy would raise inflation and slow growth, otherwise known as stagflation. The CPI report eased those concerns. The report also would leave room for the Federal Reserve to cut rates again later this year if the economy needed it. “We’re just waiting on some kind of policy response, either from the Fed or the administration,” 3Fourteen Research co-founder Warren Pies told CNBC’s “Closing Bell” on Tuesday. “I think that’s going to be a little bit slow coming. And so I don’t think it’s time to buy the dip just yet.” This week alone, the Dow and S&P 500 have dropped more than 3%, while the Nasdaq has fallen 4%. The S&P 500 briefly dipped into correction territory on Tuesday, down 10% from a record set in February. Over the past month, the S&P 500 has lost nearly 8%, while the Dow and Nasdaq have shed 6.6% and 11.3%, respectively. The bulk of those declines have been led by major tech names, which have been struggling of late. Tesla is down 17% this week alone, while Nvidia and Meta Platforms are down more than 7% each. Some of those names rebounded slightly Wednesday in the premarket. Tesla rose 3%, while Nvidia gained 2%. Meta Platforms, Amazon and Alphabet also climbed more than 1%. Trade policy remained an overhang for the market. Trump’s steel and aluminum tariffs took effect on Wednesday and the European Union responded swiftly, pledging to impose counter-tariffs on 26 billion euros ($28.33 billion) worth of U.S. imports beginning in April. U.S. Treasury yields were higher Wednesday after a softer inflation report eased some concerns about the economy. The benchmark 10-year Treasury yield rose 4 basis points at 4.328%. The 2-year Treasury yield rose more than 5 basis points to 3.999%, after falling to its lowest level since October on Tuesday morning. Asia-Pacific markets were mixed on Wednesday, after all three benchmarks on Wall Street whipsawed on uncertainty over U.S. President Donald Trump’s tariff plans and fears of a recession in the world’s largest economy. Japan’s benchmark Nikkei 225 index ended the day flat at 36,819.09, while the broader Topix index gained 0.91% to close at 2,694.91. South Korea’s Kospi index closed 1.47% higher at 2,574.82, while the small-cap Kosdaq advanced 1.11% to end at 729.49. Hong Kong’s Hang Seng Index fell 1.36% in its last hour, while mainland China’s CSI 300 lost 0.36% to close at 3,927.23. Meanwhile, losses in Australia’s S&P/ASX 200 widened to 1.32% to end the day at 7,786.20. Oil prices edged up early on Wednesday, helped by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains. Brent futures rose 27 cents, or 0.39%, to $69.83 a barrel at 0110 GMT, while U.S. West Texas Intermediate crude futures gained 29 cents, or 0.44%, to $66.54 a barrel. Despite the weakening economic outlook, oil held steady in a positive position, Daniel Hynes, senior commodity strategist at ANZ said. “That’s a sign that near-term demand for crude remains strong.” The dollar index, which fell 0.5% to fresh 2025 lows on Tuesday, boosted oil prices by making crude less expensive for buyers holding other currencies. Gold prices were little changed on Wednesday, with the market’s attention on a key U.S. inflation report due later in the day, while U.S. President Donald Trump’s tariff policies provided support to the safe haven asset. Spot gold was steady at $2,915.66 an ounce, after rising 1% in the previous session. U.S. gold futures were flat at $2,921.20.