Stock Market Today: Dow Drops; Tech Stocks Fall

Big shifts in global government policy are rattling markets.

In the U.S., the dollar weakened and stocks dropped, reversing course after the rally that followed a partial rollback of tariffs Wednesday. Tech stocks stumbled, with Broadcom, Nvidia and Palantir among notable decliners.

Investors are unnerved by the day-to-day changes in the White House’s tariff policy, with delays and exemptions on the table.

Overseas, investors dumped government bonds, as Germany’s plans for a huge increase in spending rippled through markets. German bond yields extended Wednesday’s historic surge, while Japanese long-term yields hit their highest levels since 2009.

In recent market action:

Major stock indexes fell. The S&P 500, the Dow industrials and the Nasdaq Composite each dropped roughly 1%.

Global markets were mixed. The Stoxx Europe 600 edged lower. Asian indexes largely rose, with Hong Kong’s Hang Seng up 3.3%, driven by gains in Chinese tech stocks.

U.S. Treasury yields ticked higher, on pace to rise for a third straight session.

Bitcoin traded around $90,000.

Coming up Thursday:

Broadcom and Costco are due to report earnings this afternoon.