CBS: U.S. Treasury Secretary and Trump Once Had Heated Debate on Tariff Policy

Last week, U.S. tech stocks saw a sharp pullback, with the Nasdaq falling over 4% on the week. While digesting stronger-than-expected inflation data, markets are re-examining the "economy is unbreakable" narrative. The Federal Reserve has entered its pre-FOMC blackout period ahead of the Oct. 28 policy meeting, with no official remarks, so this week’s asset pricing will hinge more on big tech earnings and economic indicators: Meta and Tesla are set to report results, while the semiconductor and storage sectors also enter their earnings reporting window. Friday’s preliminary PMI readings for Europe and the U.S., plus the final Michigan Consumer Sentiment Index, will test the trajectory of interest rate hikes. Geopolitically, Trump has suspended the implementation of full-scale sanctions and tariffs on Russia, setting a roughly 60-day review window. Disruptions to shipping in the Strait of Hormuz and rising tensions in the Middle East continue to support oil price premiums. Key events overview: Tuesday: NVIDIA’s GTC Berlin conference kicks off, running through Oct. 22. Wednesday: U.S. API and EIA crude oil inventories for the week ended Oct. 16; in the evening (Beijing time), NVIDIA CEO Jensen Huang delivers a keynote at GTC Berlin; U.S. stocks enter a "super earnings day", with Meta, Tesla, IBM, and Lam Research reporting earnings after market close. Thursday: U.S. initial jobless claims for the week ended Oct.17; Nokia releases earnings before U.S. markets open, while Western Digital and MaxLinear report results after the close. Friday: Preliminary S&P Global U.S. Manufacturing and Services PMI for October; final U.S. Michigan Consumer Sentiment Index and 1-year inflation expectations for October; Japan’s September CPI and preliminary October composite/manufacturing/services PMI, as markets monitor price trends ahead of the Oct.30 Bank of Japan policy meeting.

According to EmberCN’s monitoring, a crypto whale shorted 13,830 ETH at $2,366 at 11 PM last night, with a position value of $32.72 million. At 7:30 AM today, ETH rebounded to $2,409, triggering the forced liquidation of 2,765 ETH from the whale’s short position, worth $6.66 million. The whale now holds a remaining short position of 11,061 ETH, valued at $26.64 million, with a liquidation price of $2,419 for the short order—only $9 away from the current ETH price.

According to EmberCN’s monitoring, a crypto whale’s previously established $110 million BTC long position failed to trigger its $80,500 market stop-loss. The whale closed the BTC long position at 5 AM today, then turned to opening long positions in US equities. At 4 AM today, BTC hit a low of $80,684—just $184 away from its $80,500 stop-loss level—but did not decline further to trigger the sell order. The whale closed the long position at $80,949 at 5 AM, resulting in a total loss of $3.26 million, before opening $45.8 million worth of US stock long contracts, including TSLA, DRAM, and SOXL.

According to HTX market data, the crypto market remains range-bound and volatile. Bitcoin broke above $82,000 this morning, while Ethereum surpassed $2,400, both with gains of less than 1%. ZEC is currently priced at $1,131, SOL at $104, BNB at $723, and HYPE at $78.8, all with minor increases. The total crypto market capitalization stands at $2.785 trillion, down 1.4% over the past 24 hours. Leading altcoin gainers include GTC (up ~13%), AMP (~12%), QKC (~12%), OSMO (~11%), SENT (~8%), and CVX (~7%). Leading altcoin losers are AVA (down ~20%), A (~20%), LSK (~14%), DUSK (~11%), GNS (~9%), and EDU (~9%).

According to Bitget market data, South Korea’s KOSPI index narrowed its intraday decline to 1.00%, after falling more than 3% earlier. The Nikkei 225 index retreated below the 64,000 mark, down 2.20% on the day.

According to Bitget market data, South Korea's KOSPI index fell below 5600 points at the start of trading, down 3.17% on the day. SK Hynix dropped 4% and Samsung Electronics fell 3%.