Bloomberg News Now: Russia-Ukraine Peace Talks, US Markets, and Tech Tariffs

US Market Performance

• 📉 Major stock gauges experienced a downturn, largely due to a slump in big tech, highlighting the market's reliance on a few growth giants.
• 💡 Nvidia's shares saw their largest drop in nearly four months, losing three and a half percent, impacting the market heavily.
• 📊 Palantir Technologies also experienced a significant loss, dropping 9.4% in regular trading.

Russia-Ukraine Peace Process

• 🤝 White House Press Secretary Caroline Leavitt announced that Vladimir Putin has agreed to the next phase of the peace process with Ukraine.
• 🇺🇸 President Trump signaled that security assurances for Ukraine, potentially including air support from U.S. and EU troops, would be established.
• 🇪🇺 European leaders are seeking to leverage President Trump's support for a plan involving European troops on the ground.

Trade and Technology Policy

• 📈 President Trump expanded steel and aluminum tariffs to encompass over 400 consumer items, including motorcycles and tableware.
• 🔍 A potential deal between the U.S. government and Intel is being discussed, with Commerce Secretary Howard Lutnick emphasizing the importance of Intel's success in the United States.
• 💰 SoftBank has agreed to acquire a $2 billion stake in Intel, aiming for a larger role in the AI boom.

Federal Reserve and Housing Market

• 🏦 Fed Governor Michelle Bowman stated her focus remains on her regulatory portfolio, including overhauling big bank capital rules and addressing deep banking.
• 🏠 New residential construction saw a significant increase of 5.2% last month, reaching an annualized rate of 1.43 million homes.
• 🛠️ Despite increased construction, building permits are still showing a decline, suggesting potential builder caution.