On Tuesday, Asian equities steadied after a shaky opening, while corporate and policy developments in the United States added to uncertainty.
At the same time, Bitcoin and other digital assets weakened alongside broader risk sentiment as investors reacted to tariffs and artificial intelligence concerns.
Asia stocks rise despite AI selloff and tariff worries
Asian stocks stabilized on Tuesday after a wobbly start, even as Wall Street’s AI-linked selloff rattled investors.
Sentiment was also dampened by anxiety surrounding US President Donald Trump’s tariff policy and geopolitical tensions.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.27% and was on track for fresh highs after a seven-day rally, with benchmarks in Taiwan and South Korea hitting record levels.
Japan’s Nikkei 225 and China’s CSI 300 gained 1% as markets there caught up following a holiday, while India’s Nifty 50 fell 0.79%.
Overnight in the United States, the S&P 500 slid 1.0%, and the Nasdaq Composite fell 1.1% as fears about artificial intelligence disrupting industries weighed on technology shares.
A bearish analysis from Citrini Research added to fragile sentiment.
Investors were also digesting fresh tariff uncertainty.
Trump warned countries not to back away from trade deals after the Supreme Court struck down his emergency tariffs, saying higher duties could follow under different trade laws.
The new measures are based on Section 122 of the Trade Act of 1974.
Meanwhile, China prohibited exports of dual-use items to 20 Japanese entities, highlighting growing geopolitical frictions.
The dollar strengthened 0.4% to 155.21 yen, while the offshore yuan held steady at 6.8912 per dollar.
The CBOE Volatility Index rose to 21.01, reflecting elevated market anxiety.
FedEx sues the US government
Federal Express filed a lawsuit seeking a “full refund” of tariffs imposed last year by the Trump administration that the Supreme Court ruled illegal.
The case, filed in the US Court of International Trade in New York, names US Customs and Border Protection, its commissioner Rodney Scott, and the US government as defendants.
The Supreme Court said that the court has “exclusive jurisdiction” over the tariffs imposed under the International Emergency Economic Powers Act.
“Plaintiffs seek for themselves a full refund from Defendants of all IEEPA duties Plaintiffs have paid to the United States,” Federal Express Corp and FedEx Logistics said in the complaint.
The suit does not disclose the total tariff payments.
However, FedEx previously said US trade policies could cut about $1 billion from fiscal-year earnings, equivalent to 16% of the prior year’s profits.
The company noted, “While the Supreme Court did not address the issue of refunds, FedEx has taken necessary action to protect the company’s rights as an importer of record to seek duty refunds from US Customs and Border Protection.”
“At this time, however, no refund process has been established by regulators or the courts.”
Warner Bros. Discovery reviews rival Paramount bid
Warner Bros. Discovery is expected to inform shareholders that it is reviewing a new bid from Paramount Skydance while still recommending its existing deal with Netflix, which is scheduled for a shareholder vote on March 20, reported Variety.
In a letter to Paramount’s board, Warner Bros. Discovery CEO David Zaslav and chairman Samuel Di Piazza Jr. asked Paramount Skydance to clarify its proposal, noting they understood it would include a per-share price for WBD above $31.
Paramount has reportedly offered to acquire the entire company, while Netflix is seeking to purchase Warner Bros. studios and HBO Max’s streaming business for $27.75 per share in cash.
The Netflix agreement values the broader transaction at nearly $83 billion.
If WBD formally considers the Paramount Skydance proposal, Netflix has four days to match the higher offer or withdraw from the process.
The WBD board is legally bound to recommend its current signed agreement.
Paramount’s bid is backed by Larry Ellison and RedBird Capital Partners, with financing support from Bank of America, Citigroup, and Apollo Global Management, along with sovereign wealth funds from Saudi Arabia, Qata,r and Abu Dhabi.
Bitcoin weakens below $63K as risk sentiment deteriorates
Bitcoin dropped below $63,000 during Asian trading hours, extending overnight weakness as tariff policy changes and artificial intelligence concerns weighed on sentiment.
The cryptocurrency was trading around $63,072 and is down 7.5% for the week, hovering near levels last seen on Feb. 6.
Technical indicators suggest further downside is possible, as the 50-week average price remains above the 100-week average, meaning the typical bear-market crossover has not occurred.
Liquidations across crypto derivatives reached $368.96 million in the past 24 hours.
The broader crypto market fell 1.6% to a total capitalization of $2.2 trillion, while Ethereum, Solana, and XRP also declined, with retail sentiment turning “extremely bearish” for Ethereum.
https://invezz.com/news/2026/02/24/morning-brief-asia-stocks-up-fedex-sues-us-over-tariff-refunds/
