4E: Trump softens his stance on "reciprocal tariffs", and US stocks and crypto markets rise

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MarsBit
03-25
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Mars Finance News: Trump plans to take a more targeted approach to the "reciprocal tariffs" launched on April 2, alleviating market concerns about potential trade war escalation that could exacerbate inflation and drag down the economy. Meanwhile, the US service sector PMI rebounded, driving overall PMI improvement. Positive news boosted US stocks across the board, with the S&P 500 rising 1.76%, the Dow Jones up 1.42%, and the Nasdaq climbing 2.27%. Large tech stocks generally strengthened, with Tesla surging over 11.9%, marking its largest single-day gain since the day after the election. The crypto market's recent trend has been consistent with US stocks. Strategy's purchase of 6,911 bitcoins for $584.1 million last week boosted market confidence. Bitcoin rose yesterday, briefly reaching $88,765 after US stock market opening, and is currently trading at $87,030, up 1.7% in 24 hours. Among the top ten cryptocurrencies, SOL showed even stronger performance, currently at $140, up 5.17%. Market sectors generally rose, with the Meme sector leading at 7%. In forex and commodities, investor concerns about Trump's April 2 tariff plan cooled, with the US dollar index up 0.25% and US oil rising 1.2%. With the US dollar strengthening and gold prices at historical highs, investors took profits, causing spot gold to drop 0.30%. Trump is softening his aggressive stance on tariffs for trade partners, and other macroeconomic indicators have also pointed in a more favorable direction in recent days, lifting market optimism. Investors are currently closely watching Trump's latest "reciprocal tariffs" plan to assess its potential impact on economic growth and inflation.

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