European markets also had a day in the red. The regional Stoxx 600 fell 0.45%<\/a>, weighed down by Novo Nordisk<\/a> \u2014 the Danish pharmaceutical company’s stock sank more than 15%<\/a> after reporting disappointing trial results<\/a> for its next-generation weight loss drug.<\/p>\n The market sell-off extended to cryptocurrency. Bitcoin<\/a> lost more than 5% and fell below $63,000<\/a> on Tuesday. That’s nearly half its record high of over $125,000<\/a> that it reached in October.<\/p>\n The “pure tariff chaos”\u2014 as Bernd Lange, the chair of the European Parliament’s Committee on International Trade, put it \u2014 also contributed to the uncertainty in markets. The European Union on Monday said its trade deal with the U.S. was “on hold”<\/a> following the Supreme Court ruling that Trump’s “reciprocal” tariffs are illegal. Lange will be talking to CNBC on “Squawk Box Europe<\/a>” at 7:45 a.m. GMT.<\/p>\n “The uncertainty around trade tariffs is a problem. It’s not as bad as April, but it’s unhelpful because it pulls back investment,” Bill Winters, CEO of Standard Chartered, told CNBC.<\/p>\n The British bank announced on Tuesday a $1.5 billion share buyback<\/a> \u2014 but its fourth-quarter earnings missed Wall Street expectations.<\/p>\n “We will have intense competition between U.S. and China for the rest of our lives,” Winters added. <\/p>\n Competition can spur innovation \u2014 but it can also becomes destructive, such as the intense cost-cutting<\/a> in the Chinese electric vehicle sector. It remains to be seen where the rivalry between the world’s largest and second-biggest economy will lead us.<\/p>\n FedEx sued the U.S. government on Monday, seeking a “full refund” of the money<\/a> the shipping giant paid for tariffs imposed by Trump, which the Supreme Court last week ruled are illegal. FedEx’s suit appears to be the first one filed by a major American company.<\/p>\n Panama annulled key port contracts held by a subsidiary of Hong Kong-based CK Hutchison in its official gazette Monday, transferring interim operations<\/a> of the ports to Danish shipping giants A.P. Moller-Maersk and Swiss-based Mediterranean Shipping Co.<\/p>\n Canva acquired startups Cavalry and MangoAI, the company announced Monday, even as software stocks have been hammered in recent weeks. Canva said it ended 2025 with over $4 billion in annualized revenue<\/a>, up 36% from a year prior.\u00a0<\/p>\n U.S. stocks fell Monday. The S&P 500<\/a> lost 1.04%, putting it in the red again for 2026. The Dow Jones Industrial Average<\/a> was down 1.66% and the Nasdaq Composite<\/a> declined 1.13%. Asia-Pacific markets traded mixed<\/a> Tuesday. South Korea’s Kospi<\/a> added more than 2% to touch a new high, but Hong Kong’s Hang Seng Index<\/a> fell nearly 2%.<\/p>\n [PRO] Buy the dip, Wall Street analysts say. While investors sold off cybersecurity shares on fears that AI could reshape the sector soon, market strategists think the reaction might be overblown \u2014 and present a good buying opportunity<\/a>.<\/p>\n![\"Standard](\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2026\/02\/108268936-17719154551771915450-44194923369-1080pnbcnews.jpg\")
What you need to know today<\/p>\n