According to ChainCatcher, with 4E monitoring, the global market experienced intense volatility under the intertwining of Trump's tariff uncertainty and Federal Reserve's easing expectations. After a roller-coaster performance, US stocks saw a strong weekly rebound, with the three major indices achieving their best performance in over a year. The S&P 500 rose cumulatively by 5.7%, marking its best weekly performance since November 2023, the Dow Jones increased by 4.95%, and the Nasdaq rose by 7.29%. The tech giants' index surged by 8.95%, with NVIDIA particularly outstanding, rising 17.62% for the week.
The crypto market was highly volatile. Bitcoin initially plummeted close to $74,000 due to risk-averse sentiment from the tariff war. Subsequently, with Trump's temporary suspension of retaliatory tariffs and announcement of exemption lists, market sentiment improved, and Bitcoin gradually rebounded, breaking through $86,000. At the time of writing, it was reported at $84,408, with a weekly gain of nearly 7%. Other Altcoins also saw significant rebounds, though Ethereum remained relatively weak overall.
On the forex and commodities front, Trump's aggressive tariffs weakened the US dollar's safe-haven status. The dollar index fell below 100, reaching its lowest level since 2022, with a weekly decline of 2.9%, marking the largest weekly drop in nearly two years. Oil prices continued to decline for the second consecutive week due to demand concerns. With increased safe-haven demand, gold prices continued to rise, with spot gold rising 6.48% for the week.
Despite the market's rebound amid tariff policy relaxation last week, Trump's latest statement denying tariff "exemptions" means policy uncertainty remains a primary risk. US inflation data (CPI and PPI) were lower than expected, and the Federal Reserve's March meeting minutes suggested inflation might be more persistent. This week will require close attention to Trump's tariff dynamics and Powell's speech.