Dow Opens Higher; Bitcoin Extends Selloff — WSJ

By Joe Wallace and David UbertiA post-Nvidia hangover, plus fresh trade tensions, are weighing on global markets.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 recent slide knocked chip stocks in Asia.U.S. stocks were mixed, with a continued slide in Nvidia shares pulling the tech-heavy Nasdaq Composite lower after the opening bell. Meantime, bitcoin prices slid to around $80,000, extending a recent losing streak.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:Major U.S. stock indexes were mixed. The Dow Jones Industrial Average and S&P 500 were muted, while Nasdaq traded 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.Write to Joe Wallace at [email protected] and David Uberti at [email protected] item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).