On March 25, Trump's plan to take a more targeted approach to the "reciprocal tariffs" to be launched on April 2 alleviated market concerns about potential trade war escalation that could exacerbate inflation and drag down the economy. Meanwhile, the US service sector PMI rebounded, driving an 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 recent crypto market 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 throughout the day, reaching $88,765 after US stock market opening, with a slight pullback at the time of writing, currently trading at $87,030, up 1.7% in 24 hours. Among the top ten cryptocurrencies, SOL showed even stronger performance, currently at $140 with a 5.17% increase. Market sectors generally rose, with the meme sector leading at 7%.
In foreign exchange and commodities, investor concerns about Trump's April 2 tariff plan cooled down, with the US dollar index rising 0.25% and US oil up 1.2%. With the US dollar strengthening and gold prices at historical highs, investors took profits, causing spot gold to drop 0.30%.
Trump will soften 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. Currently, investors are closely watching Trump's latest "reciprocal tariffs" plan to assess its potential impact on economic growth and inflation. eeee.com, as a financial trading platform supporting cryptocurrencies, stock indices, bulk gold, forex, and other assets, has recently launched a USDT stablecoin financial product with an 8% annual yield, providing potential hedging options for investors. 4E reminds you to be aware of market volatility risks and allocate assets reasonably.
