{"id":58645,"date":"2026-02-17T09:38:22","date_gmt":"2026-02-17T13:38:22","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/tech-stocks-slump-as-canada-inflation-cools-and-ustr-maintains-metal-tariffs\/58645\/"},"modified":"2026-02-17T09:38:22","modified_gmt":"2026-02-17T13:38:22","slug":"tech-stocks-slump-as-canada-inflation-cools-and-ustr-maintains-metal-tariffs","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-stocks-slump-as-canada-inflation-cools-and-ustr-maintains-metal-tariffs\/58645\/","title":{"rendered":"Tech Stocks Slump as Canada Inflation Cools and USTR Maintains Metal Tariffs"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Canada\u2019s annual inflation rate slowed to 2.3% in January<\/strong>, coming in below the 2.4% estimate and providing the Bank of Canada with more room for potential policy easing.<\/li>\n<li><strong>Nasdaq 100 futures dropped 1.1%<\/strong> in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a>, weighed down by a <strong>1.7% decline in Alphabet (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> and a <strong>1% slide in Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong>.<\/li>\n<li><strong>Masimo (<a href=\"\/stock\/MASI\">MASI<\/a>) shares skyrocketed 35%<\/strong> following news that the company will be acquired by Danaher (<a href=\"\/stock\/DHR\">DHR<\/a>) for <strong>$180 per share<\/strong>.<\/li>\n<li><strong>USTR Jamieson Greer confirmed steel and aluminum tariffs will remain in place<\/strong>, though the administration may adjust them to ease compliance costs for domestic businesses.<\/li>\n<li><strong>Geopolitical tensions flared<\/strong> as reports surfaced that Iran refused to allow American officials to join the IAEA delegation for nuclear site inspections.<\/li>\n<\/ul>\n<h2>Canadian Inflation and Wholesale Data<\/h2>\n<p>Canada\u2019s Consumer Price Index (CPI) showed significant cooling in January, with the <strong>headline Y\/Y figure landing at 2.3%<\/strong>, below the expected <strong>2.4%<\/strong>. On a monthly basis, prices remained flat at <strong>0.0%<\/strong>, missing the <strong>0.1%<\/strong> growth forecast. <em>This disinflationary trend was mirrored in core metrics<\/em>, as the CPI Core-Trim fell to <strong>2.4%<\/strong> against expectations of <strong>2.6%<\/strong>.<\/p>\n<p>In secondary data, <strong>Canada\u2019s Wholesale Sales (excluding petroleum) rose 2.0% in December<\/strong>, a sharp recovery from the previous month\u2019s <strong>1.8% contraction<\/strong>. However, international securities transactions saw a significant shift, with a <strong>net outflow of $5.57 billion CAD<\/strong> in December, compared to a revised <strong>$15.96 billion inflow<\/strong> in November.<\/p>\n<h2>US Markets and Manufacturing Outlook<\/h2>\n<p>US equity futures signaled a weak open on Tuesday, with the <strong>Nasdaq 100 leading the decline with a 1.1% drop<\/strong>. The &quot;Magnificent Seven&quot; stocks were broadly lower in pre-market action, including <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) down 0.3%<\/strong>, <strong>Microsoft (<a href=\"\/stock\/MSFT\">MSFT<\/a>) down 0.7%<\/strong>, and <strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>) falling 0.6%<\/strong>.<\/p>\n<p>The <strong>NY Empire State Manufacturing Index for February printed at 7.1<\/strong>, beating the <strong>6.2 estimate<\/strong> but showing a slight deceleration from January\u2019s <strong>7.7<\/strong>. Meanwhile, the <strong>ADP Weekly Employment Change<\/strong> for the week ending Jan. 31 showed a gain of <strong>10,250 jobs<\/strong>, nearly doubling the previous week&#39;s figure of <strong>6,500<\/strong>.<\/p>\n<h2>Corporate M&amp;A and Investor Sentiment<\/h2>\n<p><strong>Masimo (<a href=\"\/stock\/MASI\">MASI<\/a>)<\/strong> was the standout performer in the pre-market, jumping <strong>35% to trade near the $180 acquisition price<\/strong> offered by <strong>Danaher (<a href=\"\/stock\/DHR\">DHR<\/a>)<\/strong>. In the travel sector, <strong>Norwegian Cruise Line (<a href=\"\/stock\/NCLH\">NCLH<\/a>) rose 8%<\/strong> following reports that <strong>Elliott Investment Management<\/strong> has built a stake of more than <strong>10%<\/strong> in the company.<\/p>\n<p>A Bank of America Fund Manager Survey revealed that a <strong>record number of investors believe companies are overspending<\/strong>. This caution comes as Bloomberg reports that <strong>military actions under the Trump administration are being funded by debt<\/strong> rather than tax increases, potentially costing taxpayers billions in the long term.<\/p>\n<h2>Trade Policy and Geopolitics<\/h2>\n<p><strong>U.S. Trade Representative Jamieson Greer<\/strong> stated on Tuesday that <strong>steel and aluminum tariffs will stay in place<\/strong>, emphasizing that the administration does not want &quot;overwhelming compliance costs&quot; but remains committed to the protectionist measures. Greer also noted that the US has <strong>restarted wheat shipments to Bangladesh<\/strong> and may adjust metal tariffs to simplify the regulatory burden.<\/p>\n<p>On the geopolitical front, <strong>three-way talks regarding Ukraine began in Geneva<\/strong>, according to RIA. However, friction remains in the Middle East as <strong>Iran reportedly refused to discuss ballistic missiles or enrichment principles<\/strong> during recent diplomatic efforts, further complicating the prospect of a nuclear deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Canada\u2019s annual inflation rate slowed to 2.3% in January, coming in below the 2.4% estimate and providing the 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