Euro Climbs Amid Infrastructure Deal and U.S.-Ukraine Minerals Agreement

Major stock indexes saw varied movements with Nasdaq turning positive as Germany announced a 500 billion euro infrastructure fund and news surfaced about a minerals deal between the U.S. and Ukraine. Stock futures fluctuated amid new tariffs from the U.S., spurring economic concerns.

Major stock indexes experienced mixed outcomes as the Nasdaq turned positive Tuesday afternoon. This followed Germany's political parties agreeing to a 500 billion euro infrastructure fund and reports that the U.S. and Ukraine plan to seal a significant minerals deal. The euro rallied, hitting a three-month high.

Germany's proposal for a massive infrastructure fund, combined with the intent to overhaul borrowing rules, aims to boost defense spending. This has seen the euro strengthening against the dollar and sterling. European stock futures, pressured earlier by U.S. tariff concerns, rebounded as markets closed in Europe.

Meanwhile, U.S. tariffs targeting Canada, Mexico, and China have stirred inflation fears, with significant potential impacts on grocery prices. The Dow Jones, S&P 500, and Nasdaq showed mixed results, while tariffs from Canada and China in retaliation intensified the economic discourse. U.S. bond yields rose slightly following these developments.

(With inputs from agencies.)