Nebius Group shares fell 5.33% on Tuesday after President Trump announced a 10% U.S. import tariff on goods from the Netherlands effective February 1, with the rate set to rise to 25% on June 1 unless a broader trade agreement is reached. The measure targets eight European nations and coincides with renewed U.S. interest in acquiring Greenland, a move framed by the administration as critical for countering Chinese and Russian influence. Investors reacted to increased geopolitical risk, perceiving higher input costs for Nebius’s European-manufactured AI infrastructure components.

Technical analysis shows MACD trading below its signal line, signaling continued downward momentum unless a significant reversal occurs. The relative strength index sits in neutral territory around 50, indicating neither overbought nor oversold conditions but leaving room for further selling pressure. Market participants are watching a key support level at 94.50; a breach could trigger additional losses. With no clearly defined resistance, traders lack a precise short-term upside target, heightening uncertainty around a sustained rebound.

Despite recent declines, Nebius has delivered a 176% return over the past 12 months, reflecting robust demand for AI datacenter capacity and strategic partnerships with major hyperscalers. The stock sits at 70% of its 52-week range, suggesting it remains closer to its yearly highs than lows. This positioning indicates that while elevated valuations may invite profit-taking, the company’s solid revenue growth trajectory and backlog of enterprise contracts could underpin a recovery if trade tensions ease.