Trump Responds to Tariff Policy, Triggering Stock Market Plunge: Market Reaction as Expected, Things Progressing Very Smoothly
On April 4th: During the midday trading session of the U.S. stock market on Thursday, April 3rd, President Trump was queried by reporters at the White House regarding the market's response. He asserted, "I believe that the progress is advancing very smoothly. You have never witnessed a situation like this. The market will thrive. The stock market will thrive. The country will thrive. Everyone else in the world desires to know if they can reach an agreement."
After the U.S. stock market closed, Trump once more declared that the market's reaction was "in line with expectations," and that the U.S. economy is in a "transition phase." He once again compared the U.S. economy he took over from Biden to a "patient" who has undergone an operation.
Trump also alluded to being inclined to reach certain agreements on tariff matters. He stated, "Every country has been reaching out to us. This is the charm of what we do; we place ourselves in the driver's seat."
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Morgan Stanley: Trump's Tariff Policy Impact on Par with Nixon's Abandonment of the "Gold Standard"
On April 4th, Michael Gapen, the Chief US Economist of Morgan Stanley, holds the view that "Trump's tariff policy will be the most radical restructuring of the US tax and trade structure since Nixon abandoned the gold standard in the early 1970s." Meanwhile, Michael Gapen indicated that the tariff policy announced on Wednesday exceeded his expectations by a wide margin. (Wall Street See)
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4E: Aggressive Tariff Policy Deals Heavy Blow to US Stock and Crypto Markets, Escalating Global Economic Recession Concerns
On April 4th, according to 4E Monitoring, Trump's tariff plan, which is far more aggressive than what the market expected, has aroused strong concerns among investors regarding the full outbreak of a trade war and the subsequent economic recession. On Thursday, all three major U.S. stock indexes witnessed a sharp decline. The Nasdaq plummeted by 5.97%, marking the largest single-day drop since March 2020. The S&P 500 fell by 4.84%, and the Dow dropped by 3.98%, both representing the largest single-day drops since June 2020. Large-cap tech stocks experienced a significant decline as tariffs are anticipated to have an impact on the supply chain. Apple plummeted by over 9%. The "Manificant 7," the seven tech giants, saw a one-day evaporation of approximately $1 trillion in market value, and the total market capitalization fell to its lowest level since early August of the previous year.
The crypto market witnessed a broad decline. Bitcoin dropped below nearly $81,000 from its high of $88
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Today, several whales unlocked and dumped SOL, totaling over $46.3 million in value
On April 4th, as per the monitoring of LookOnChain, several whales unlocked and sold more than $46.3 million worth of SOL today.
HUJBzd sold 258,646 SOL (approximately $30.3 million);
BnwZvG sold 80,000 SOL (about $9.47 million);
8rWuQ5 sold 30,000 SOL (around $3.53 million);
2UhUo1 sold 25,501 SOL (roughly $3 million).
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Riot Platforms: Bitcoin Holdings Reach 19,223 Coins
On April 4th, the Nasdaq-listed Bitcoin mining firm Riot Platforms issued its unaudited March production and operations update report. It was disclosed that the mining output in March was 533 BTC, with a daily average Bitcoin production of 17.2 BTC, which showed a 13% increase compared to the previous month. Additionally, the company also announced that its total Bitcoin holdings had risen to 19,223 coins and would continue to actively promote the construction of AI/HPC data centers.
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