Dow Edges Up; Bitcoin Extends Selloff — WSJ
By Joe Wallace and David UbertiU.S. stocks ticked higher Friday despite trade tensions weighing down global markets.Major indexes logged modest gains, thanks in part to big tech stocks clawing back some of their recent losses. Meantime, bitcoin rebounded above $84,000 after veering as low as $79,000 in early morning trading.Overseas stocks fell after China said it would retaliate against President Trump's tariffs, moves which threaten to pull the world's two biggest economies into a deepening trade war. Shares in China sold off, while Nvidia's post-earnings slide knocked chip stocks in Asia.Investors are struggling to gauge if Trump will go ahead with tariffs on allies including Canada and Mexico, as well as China, given the whipsaws in trade policy in recent weeks. Beijing said Friday it would counter any additional tariffs imposed by the U.S., after Trump said he would place an extra 10% levy next month.In recent trading:U.S. stocks gained Friday. But all three major indexes are on track to finish February in the red.Inflation moderated last month. The Fed's favored inflation gauge showed prices rising 2.6% in the 12 months through January, excluding volatile food and energy costs.Asian stocks fell. Hong Kong's Hang Seng Index shed 3.3%. Indexes also skidded in mainland China, South Korea and Japan. The yen weakened against the dollar.Investors bought government bonds around the world, pulling down yields, including on U.S. notes.Prices for commodities including oil and copper fell. Copper prices had rallied earlier this week after Trump ordered a probe into imposing tariffs on imports of the metal.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).