4E: Trump's tariff adjustments boost the market, U.S. stocks and cryptocurrency markets rebound together
ChainCatcher news, Trump adjusts tariff policy, postponing auto tariffs on Canada and Mexico by one month, and is willing to consider more requests for tariff exemptions. The trade tensions may ease, boosting market sentiment. According to 4E monitoring, U.S. stocks rebounded significantly on Wednesday, reversing the decline of the previous two days, with the technology and automotive sectors leading the gains. By the close, the S&P 500 index rose 1.12%, the Dow Jones increased by 1.14%, and the Nasdaq climbed 1.46%. Major tech stocks generally rose, with Microsoft leading at 3.19%.The cryptocurrency market rebounded across the board. Driven by the U.S. stock market and the upcoming White House crypto summit, the market expects that policies regarding Bitcoin reserve plans and other crypto regulations will become clearer. Bitcoin broke through the 90,000 mark, reaching a high of $91,903, up 4.8% in 24 hours, while Ethereum returned above $2,200, gaining 4.59% in 24 hours. Various sectors in the market generally rebounded, with increases typically around 2% to 8%, boosting market sentiment.In the forex and commodities sector, the risk of a U.S. recession is rising, leading to a third consecutive decline in the dollar index, which fell 1.3% to a six-week low. Due to unexpected increases in supply, oil prices fell for three consecutive days, with U.S. oil dropping to its lowest level in nearly two years; the weaker dollar pushed precious metals higher, with spot gold slightly up 0.04%.The Federal Reserve's Beige Book indicates that overall economic activity in the U.S. has slightly increased since mid-January, but consumer spending has generally decreased, further confirming the uncertainty of the U.S. economic outlook. Economic data is mixed, with rising recession risks, and the market expects the Federal Reserve to cut interest rates by more than 70 basis points before the end of the year.
