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Dollar rises as Treasury yields up European equities, euro

fall

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Tech shares largely ignore Nvidia ( NVDA ) results

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Bitcoin wobbles near $85,000

By Greta Rosen Fondahn and Kevin Buckland

GDANSK/TOKYO, Feb 27 (Reuters) - European share markets

slipped on Thursday following a threat from U.S. President

Donald Trump to impose 25% tariffs on imports from the EU, but

stocks globally held broadly steady after Nvidia's ( NVDA ) results threw

up no big surprises.

Trump created some confusion over the looming duties on top

trading partners Canada and Mexico on Wednesday, by signalling

they would take effect on April 2, which would be another

month-long extension.

However, a White House official later said the previous

March 4 deadline for the levies remained in effect "as of this

moment", stirring further uncertainty about U.S. trade policy.

Trump also floated a 25% "reciprocal" tariff on European

cars and other goods.

European stocks were weaker across the board, with the STOXX

600 index down 0.6%, while the euro shed 0.1%

but stayed within the range it has traded in during the past

week.

"We're almost in a situation where there is so much news

that it's leaving traders paralysed, because they don't know

what to focus on, and particularly with Trump, what is a

negotiating gambit and what is a serious policy proposal," said

Michael Brown, senior research strategist at Pepperstone.

"Given the degree of uncertainty, it does make sense to

lighten up on positioning, particularly in riskier assets."

U.S. Nasdaq futures pointed 0.6% higher, while

S&P 500 futures were up 0.5%.

The U.S. dollar firmed and Treasury yields ticked higher as

investors assessed the outlook for tariffs and the economy under

Trump.

U.S. two-year Treasury yields rose to 4.1%,

following Wednesday's decline to their lowest since November 1

at 4.065%. The 10-year yield rose to 4.2924% from a

low of 4.245% on Wednesday.

US GROWTH JITTERS

The dollar has been under pressure in recent weeks, while

Treasury yields have fallen, as a run of soft economic

indicators have combined with growth worries arising from

Trump's tariff plans.

Traders have raised bets for Federal Reserve interest rate

cuts, now seeing two quarter-point reductions this year, with

the first likely in July.

Markets will look at U.S. GDP and durable orders data on

Thursday for any stronger signs of slowdown, while the Fed's

preferred inflation gauge, the Personal Consumption Expenditure

(PCE) index, is due on Friday.

"Markets are starting to feel less confidence about U.S.

growth," said Shoki Omori, chief global desk strategist at

Mizuho Securities.

The U.S. dollar index, which measures the currency

against six major rivals, rose 0.17% to 106.64, extending a

climb from a 2 1/2-month low hit earlier this week.

In equities, Nvidia ( NVDA ) shares were down 1.1% in pre

market trading, after the shares slipped 1.5% after the bell on

Wednesday.

After the closing bell, the heavyweight U.S. chipmaker and

artificial intelligence pioneer gave a strong growth forecast

for the first quarter, although investors are accustomed to big

beats from the company.

Cryptocurrency bitcoin edged up to $85,988 following

a nearly 12% tumble over the first three days of this week.

Bitcoin bull Geoff Kendrick, global head of digital assets

research at Standard Chartered, cautioned against buying the dip

just yet in a note to clients.

"Stay patient," he said. "These types of losses rarely end

well and I still think the big capitulation is yet to come."

Safe-haven gold eased back to $2,879 per ounce,

pressured by a stronger U.S. dollar and rising yields.