Morning Report 27 Mar 25: Tech stocks fall 2% as tariff angst roils markets

US stocks fell sharply as President Trump prepared to announce auto tariffs, dragging down car shares. While banks appeared resilient against the latest tech-led sell-off, tech stocks faced heavy pressure, with Nvidia hit particularly hard. Meanwhile, CFO optimism in the US declined amid growing tariff uncertainty, though the US dollar gained on the same concerns. In Europe, UK Finance Minister Rachel Reeves trimmed spending plans, while cooling inflation provided a boost to the FTSE 100. In commodities, oil prices climbed 1% on a US crude draw, gold slipped as the dollar and bond yields strengthened, and iron ore firmed on rising Chinese demand. Looking ahead, Australian shares are expected to snap a five-day winning streak. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.