Feb 27 (Reuters) - A look at the day ahead in Asian

markets.

The Asia-Pacific economic and corporate calendar is virtually

empty on Thursday, allowing investors to take their cue from

global drivers, two of which stand out above all others -

Nvidia's ( NVDA ) earnings and U.S. President Donald Trump's latest

musings on tariffs.

Nvidia ( NVDA ) reported fourth-quarter earnings after the

market close on Wednesday. Revenue grew 78% to $39.3 billion,

beating estimates of $38.04 billion, and the firm's forecast for

first-quarter revenue was also above market estimates. Shares in

the artificial intelligence poster child were little changed in

choppy, after-hours trading.

Shares in Wall Street's 'Magnificent Seven' and Big Tech more

broadly - the runaway market winners over the last two years -

have been under heavy pressure this year as investors rotate

into unloved sectors at home and cheaper markets abroad.

Indeed, the 'Mag 7' this week entered correction territory

having fallen more than 10% from their recent peak, so recovery

hopes rested almost exclusively on Nvidia ( NVDA ). Tech bulls may be

disappointed.

Also in U.S. tech, Tesla shares have shed nearly 20% in

less than a week, slammed on the news that the electric car

maker's sales in Europe nearly halved last month. Some analysts

suggest the slump was due to frustration in Europe about CEO

Elon Musk's close ties to Trump and political involvement in

European countries' domestic affairs.

Investors were on the defensive before Nvidia's ( NVDA ) results,

after Trump said earlier that he will soon announce a 25% tariff

on imports - "on cars, and all of the things" - from the

European Union.

Trump also said that steep new tariffs on imports from

Mexico and Canada will go ahead on April 2, a month later than

he had initially indicated. But a White House official later

clarified that the March 4 deadline remained in place "as of

this moment".

'Tariff Man' is not for turning. Not yet anyway.

It was interesting to note that although Wall Street opened

firmer on Wednesday and was recouping some of its losses from

earlier this week, Treasuries didn't budge. This suggests the

fleeting equity rebound was more short-covering than anything

else, and that the bond market wasn't changing its view.

But bond investors did react to Trump's tariff remarks. The

renewed decline in yields suggests they believe escalating trade

tensions will hit growth more than they will stoke inflation. At

least in the near term.

Most equity markets in Asia, except Japan, posted solid gains on

Wednesday. But the region is set to slide into the red at the

open on Thursday as investors play safe. Treasuries up, dollar

up - the big macro moves in U.S. regular trading hours on

Wednesday don't get much safer.

Here are key developments that could provide more direction

to Asian markets on Thursday:

- Fallout from Trump's latest tariff threats

- G20 finance ministers, central bank governors meeting

- U.S. GDP (Q4, second estimate)