Trump's trade war is changing day by day, plunging the market into chaos, with the US stock market falling across the board, and the global bond market facing a sell-off after Germany is expected to ease its debt limit. Bitcoin fell below $88K last night, but has gradually rebounded to above $90K this morning, and the community still holds expectations for the White House crypto summit on Friday.
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ToggleAre you ready for the kangaroo market as Trump's tariff war changes day by day?
Affected by the drastic fluctuations in tariff news, the US stock market fell across the board, with the S&P 500 index falling 1.78% and the NASDAQ 100 index falling 2.61%, approaching the technical correction area. After President Trump decided to delay the imposition of a 25% tariff on products from Mexico and Canada covered by the North American Free Trade Agreement (USMCA), the US stock market failed to rebound, highlighting the fragile risk appetite.
US President Trump announced that products from Mexico and Canada covered by the North American Free Trade Agreement (USMCA) will be exempt from the 25% tariff, effective until April 2.
Trump's trade war is changing day by day, plunging the market into chaos, and some people jokingly call this year not a bear market or a bull market, but a kangaroo market! The market is surging and plunging all day long, making investors feel exhausted! However, it is precisely at this time that we need to do a good job of asset allocation and risk management. Are you ready for this year's kangaroo market?
Bond market faces sell-off, Peter Schiff warns of the impact of rising Japanese interest rates on US stock leverage bets
The global bond market is facing a sell-off, with German bonds seeing the biggest drop since the fall of the Berlin Wall after Germany is expected to ease its debt limit. The 10-year Japanese government bond (JGB) yield reached 1.51%, a new high since 2008. Gold bull Peter Schiff expects it to break through 1.76% before mid-year. He also said that Japan's super-low yields have fueled leverage bets on the US stock market, suggesting that Japan's low interest rates may no longer have the same impact on the stock market.
(Germany triggers global bond sell-off, Arthur Hayes: The money printing hunger games have begun!)
Most cryptocurrencies remain flat, the market looks forward to the White House crypto summit on Friday
Bitcoin fell below $88K last night, but has gradually rebounded to above $90K this morning, and the community still holds expectations for the White House crypto summit on Friday. The host of the summit, crypto czar David Sacks, confirmed that important figures from the cryptocurrency, fintech and investment sectors will participate, covering exchanges, payment companies, blockchain infrastructure, media and investment institutions.
Most of the invite lists circling X are fake but this looks correct (though not yet complete). Note that the Digital Asset Summit is not a conference; it's a roundtable. We appreciate all of the interest but need to keep it small to have a meaningful conversation. https://t.co/r60gtdKgWN
— David Sacks (@davidsacks47) March 6, 2025
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