Global stock markets rallied on Wednesday, driven by optimism surrounding US President Donald Trump's announcement of substantial investment plans for artificial intelligence (AI) infrastructure. The technology sector led the charge, with heavyweight companies like Nvidia and Netflix experiencing significant gains. Meanwhile, the US dollar weakened to a two-week low as tariff uncertainties eased, and investors awaited further clarity on President Trump's trade policy.
Global shares experienced a surge on Wednesday, fueled by a rally in technology stocks following US President Donald Trump's announcement of substantial spending plans for artificial intelligence (AI) infrastructure. Concurrently, the US dollar weakened to a two-week low as tariffs faced delays. London's FTSE 100 index, after reaching a record high earlier in the session, ended the day flat. The blue-chip index gradually lost momentum, snapping a five-day winning streak.
A decline in heavyweight copper miners' shares overshadowed positive corporate updates and anticipations of further monetary policy easing. Shares of Glencore tumbled 17 percent to the bottom of the domestic FTSE 250 index after the miner issued fourth-quarter gold production forecasts. Conversely, wealth manager Hargreaves Lansdown climbed 2.1 percent after reporting a rise in fourth-quarter managed assets, driven by nearly £2 billion (€2.36bn) in net inflows from its affluent clients. The pan-European STOXX 600 index closed 0.4 percent higher at its highest level since September 2024, propelled by heavyweight technology and industrial sectors. Markets appeared largely unfazed by tariff anxieties triggered by recent declarations from Trump. Adidas jumped 6 percent after the German sportswear brand reported what it termed better-than-expected preliminary fourth-quarter results, with robust sales and profitability for the crucial holiday shopping period. Nvidia rose 6.5 percent as the company anticipates a significant boost from Trump's announcement of up to $500 billion in private sector investment to fund AI infrastructure. However, Mondelez dropped 8 percent after the chocolate-maker and cocoa processor reported lower sales volume than anticipated for its first quarter. Wall Street's main indexes rallied on Wednesday, with the benchmark S&P 500 hitting an all-time high as investors welcomed streaming giant Netflix's strong quarterly performance and Trump's support for bolstering AI infrastructure. Netflix surged 10.9 percent, propelling the S&P 500 communication services sector up 2 percent. The company reported a record number of subscribers for the holiday quarter, enabling it to increase prices for most service plans. The president has directed federal agencies to complete comprehensive reviews of a range of trade issues by April 1st, a date that analysts at Barclays believe markets should await for greater clarity on his tariff policy
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