Trump Says He Will Raise Canada Steel and Aluminum Tariffs to 50%
Citi Downgrades U.S. Stocks; Cites Reasons to Love China Tech
Trump's tariffs are fluctuating unpredictably, the decline in US stocks is easing, Tesla has rebounded nearly 4%, Chinese concept stocks are booming, and NIO has surged 17%, while the Canadian dollar has a rollercoaster ride.
The three major U.S. stock indices all closed at six-month lows; NVIDIA rose by 1.7%, while Apple fell nearly 3%; United States Steel increased by over 5%, and Aluminum rose by more than 3%; XPeng Motors climbed nearly 15%, and Alibaba rose by almost 5%. The yield on two-year U.S. Treasuries rebounded by over 10 basis points during the session. After Trump threatened to impose tariffs on Canada, the Canadian dollar plunged to a one-week low, then turned to rise; the euro reached a nearly five-month high; Bitcoin rebounded by over $6,000 during the session.
US stock market closing: the three major Indexes all fell while Chinese concept stocks rose significantly, with Hesai Technology soaring over 50%.
① All three major Indexes closed lower, with the Dow falling more than 1%; ② Hesai Technology surged over 50%, reportedly supplying Lidar Sensors to Mercedes; ③ China Concept Stocks generally rose, with the Nasdaq Golden Dragon China Index increasing by nearly 3%.
Investor sentiment is "extremely pessimistic"! The S&P 500 Index is approaching the Range for a pullback.
The US stock market is facing a negative emotional impact from Trump's tariff policy, and the S&P 500 Index is attempting to rebound after a significant drop, but is still close to the Range of adjustment.
S&P 500 Global Sectors ranking: Telecommunication Services and Transportation, among others, have declined.
Closing price Comparison with the previous day S&P 500 5572.07 -0.76% ■ Categories with highest increase Autos and Components 127.92 +3.04% Semiconductors and Manufacturing Equipment 4841.89 +0.98% Software and Services 4454.33 +0.07% ■ Categories with highest decrease Telecommunication Services 164.71 -5.14% Transportation 963.57 -3.37% Technology, Hardware, and Equipment 4029
Agent Smith 404 : The narrative MUST hold! The big money wants the fall to continue. You're not shaking me out, Jerry.
151318250 : Yes, nothing to do with 'trade wars' or Trump or Elon, but the deep state wanted a cause to crush the markets like last time with releasing their bio-weapon virus. Just look at the news everywhere, their good old tactics to program people's mind with key words like Trump - tariff - Elon - recession.