According to 4E's record, on Tuesday, Trump made softer statements about tariff policy, believing the current tariffs on China are too high and predicting a significant reduction in the future. Positive expectations about US-China trade negotiations help cool global trade tensions, improve risk acceptance sentiment, and drive a strong surge in the US stock market. The S&P 500 index rose 2.5%, Dow Jones rose 2.66%, and Nasdaq rose 2.71%. The large tech stock group fully recovered from the previous day's decline, with the "7 giants" index rising 2.84%.
The cryptocurrency market also saw a strong simultaneous increase. Bitcoin continued its impressive upward trend, surpassing $90,000 last night and accelerating to near $94,000 this morning after Trump withdrew his threat to fire Fed Chairman Jerome Powell. Currently, BTC is trading around $93,063, up 5.6% for the day. Ethereum (ETH) also made a spectacular reversal, rising strongly by 14% and exceeding $1,800. The altcoin group also rose simultaneously, pushing the total cryptocurrency market capital up by 5.4%.
In the foreign exchange and commodity markets, the USD index rose strongly by 0.65%, and international crude oil rose nearly 2%. In contrast, spot gold fell 1.25% after a series of peak days, due to the return of risk-taking sentiment. Trump's soft statements on tariffs and a more moderate stance towards Powell helped the market shift from a worried to an optimistic mood. In the coming period, the progress of trade negotiations and the Fed's monetary policy orientation will be the focus of investors' attention.
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