U.S. Stocks Waver Amid Tariff Threats and Mixed Market Signals

U.S. stocks closed with mixed results amid new tariff threats, while a draft minerals deal boosted European markets. Nvidia's strong earnings contributed to gains, but investor skepticism grew over AI investments. The U.S. dollar rose as House Republicans advanced President Trump's tax cut plans.

U.S. stocks faced a tumultuous close on Wednesday as new tariff threats cast uncertainty over the markets. However, a draft U.S.-Ukraine minerals deal alongside strong corporate earnings provided a boost to European shares, causing them to close at record highs.

Nvidia, a leading artificial intelligence chipmaker, reported better-than-expected quarterly revenue and earnings, leading to a 3.7% increase in its share price during extended trading. Meanwhile, the advancement of President Trump's tax cut plans by House Republicans also buoyed investor sentiment despite lingering skepticism about AI infrastructure investments.

Elsewhere, oil prices dropped due to increased U.S. stockpiles and potential Ukraine-Russia peace talks, while gold remained subdued, awaiting upcoming inflation data and tariff developments. The U.S. dollar strengthened as investors reacted to the political developments, influencing global market dynamics.