4E: Trump's tariffs repeatedly exacerbate market unease, tonight's CPI data becomes a key variable
ChainCatcher news reports that according to 4E monitoring, on Tuesday, Trump reversed his stance on Canadian tariff policies multiple times, causing the market to experience a "roller coaster" trend. At the beginning of the session, the U.S. stock market initially rose, but then Trump announced a 25% tariff on Canadian steel and aluminum, leading the three major indices to turn negative. Shortly after, news emerged that the policy was paused and both sides would renegotiate, but the downward trend in the U.S. stock market remained unchanged. After the lunch break, the market changed again, with Ukraine agreeing to a 30-day ceasefire. Large tech stock bargain hunters surged, pushing the U.S. stock market to refresh its daily high, but the market weakened again towards the end of the session. By the close, all three major indices ended lower, with the Dow down 1.14%, the S&P 500 down 0.76%, and the Nasdaq down 0.18%. Most of the seven tech giants saw an increase.The cryptocurrency market rebounded significantly, with Bitcoin recovering from a low of $76,606 to above $83,000, rebounding over 8% and reclaiming yesterday's sharp decline. Ethereum rose from a low of $1,754 to $1,920, rebounding over 9%. Some altcoins had even larger rebounds. The total market capitalization of cryptocurrencies slightly recovered to $2.77 trillion, with a 24-hour increase of 2.5%, and market sentiment warmed slightly.In the forex commodities sector, the U.S. dollar index fell over 0.6%, remaining in a downward trend for most of the day. The outlook for global oil inventories improved, leading to a slight increase in international oil prices; the renewed turmoil in U.S. tariff situations and concerns over economic growth supported safe-haven gold, with spot gold rising over 0.9%.The ongoing uncertainty surrounding Trump's tariff policies has continued to impact the market, and the potential effects on consumers and the economy have dampened Wall Street's sentiment. The CPI report at 8:30 PM tonight is highly anticipated, as investors hope to gauge whether the market's concerns about economic stagflation are justified. If the data exceeds expectations, the market may experience another sharp decline.