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Megacap tech stocks led a cautious stock rebound Wednesday as investors focused on the latest tariff volleys and a cooler-than-expected inflation reading .

The Dow Jones Industrial Average ( ^DJI ) ended the day down 0.2% after reversing course earlier in the session. Meanwhile, the S&P 500 ( ^GSPC ) was up about 0.5%, while the Nasdaq Composite ( ^IXIC ) increased 1.2%, leading the way higher.

A rebound in Big Tech led the gains, with Nvidia ( NVDA ) popping more than 6% and Tesla ( TSLA ) adding over 7%.

On Wednesday, the latest data from the Bureau of Labor Statistics showed that the "core" Consumer Price Index (CPI) — which strips out the more volatile costs of food and gas — rose 3.1% in February, down from 3.3% seen the month prior. This marked the lowest yearly increase in core CPI since April 2021.

But President Trump's fast-moving tariff policy is front of mind after uncertainty fueled another volatile session ending in losses on Tuesday.

Canada has imposed tariffs on $21 billion of US goods in response to Trump's across-the-board duties on steel and aluminum, which went into effect on Wednesday. The EU earlier made its own response, placing matching counter-tariffs on $28 billion in US goods from April.

Read more: The latest on Trump's tariff plans