Capital Gains Tax by Country: 2026 Reference Table for EU Investors

U.S. stocks wrapped up the first quarter with solid gains on Tuesday, led by a surge in technology shares. Investors welcomed a batch of upbeat economic data and looked ahead to a busy earnings season in April. ## Markets Cap a Strong Quarter The **S&P 500** climbed to a fresh record, closing up for the day and capping its best first quarter since 2019. The **Nasdaq Composite** outpaced other major indexes, driven by renewed enthusiasm for artificial intelligence and chip stocks. The **Dow Jones Industrial Average** also advanced but lagged the tech-heavy benchmarks. Treasury yields edged higher as investors digested robust consumer confidence figures and a steady labor market. The 10-year U.S. Treasury yield hovered near recent highs, signaling persistent optimism about the economy’s momentum. ## Tech Stocks Lead, Energy Lags Chipmakers and AI-linked stocks stood out as top performers. Shares of major semiconductor firms rallied sharply, building on recent momentum after several companies boosted their revenue forecasts. Software and cloud computing names also saw broad-based gains. Meanwhile, energy stocks underperformed as oil prices slipped. Despite geopolitical tensions, **crude oil** futures fell on signs of rising U.S. inventories and easing supply concerns. **Gold** prices held steady, consolidating after a strong run earlier in the month. On the currency front, the **U.S. dollar index (DXY)** was little changed against major peers. The **euro** traded in a narrow range versus the greenback, as traders looked ahead to upcoming inflation data from the eurozone. ## Key Movers and Sector Highlights Tech giants and chipmakers powered the day’s rally. Investors rotated back into growth sectors, betting on sustained demand for AI and advanced computing. Several large-cap tech stocks reached new highs, underscoring investor confidence in the sector’s earnings potential. In contrast, traditional defensive sectors such as utilities and consumer staples lagged the broader market. Energy names came under pressure as oil’s retreat weighed on sentiment. For investors focused on ETF strategies, recent market swings have fueled renewed interest in European-domiciled funds. For a deeper dive into common misconceptions about these products, see Six Common ETF Myths That Trip Up European Investors (And the Truths You Need to Know). ## What to Watch Looking ahead, all eyes turn to the March jobs report due later this week, which will offer fresh insight into the health of the U.S. labor market. Investors are also preparing for first-quarter earnings season, with major banks set to report in mid-April. Central bank commentary remains in focus, as policymakers weigh the timing of potential rate adjustments. Overseas, markets will be watching eurozone inflation releases and developments in global energy markets. As the second quarter kicks off, portfolio positioning and sector rotation will stay front and center. For those considering a shift to European ETFs, our guide on how to switch your portfolio to EUR-denominated ETFs offers practical steps for a seamless transition. Stay tuned for continued coverage as Q2 begins and fresh data shapes the market narrative.