4E: Trump's tariffs are about to take effect, and the market is on high alert, with risk aversion rising
ChainCatcher news, according to 4E monitoring, Trump's reciprocal tariffs are imminent, and U.S. stocks opened lower due to heightened risk aversion in the early session. However, Chicago PMI data exceeded expectations, boosting risk sentiment, and coupled with quarter-end rebalancing trades, U.S. stocks narrowed their losses during the day, ending with mixed results among major indices. The S&P 500 rose by 0.55%, down 5.75% in March, and down 4.59% for the quarter; the Dow Jones increased by 1.00%, closing down 4.20% for the month, and down 1.28% for the quarter; the Nasdaq slightly fell by 0.14%, plummeting 8.21% in March, and down 10.42% for the quarter. Tech stocks were generally sluggish, with the "Tech Seven Sisters" index dropping 14.83% in the first quarter, led by Tesla down 35.83%, followed closely by Nvidia down 19.29%.The cryptocurrency market fluctuated narrowly, with Bitcoin rebounding to $84,000 under the boost from U.S. stocks, but retreated after the market closed, reporting $82,781 at press time, up 1.18% in 24 hours. After recording an 18% drop in February, it ended March with a further decline of 3.5%. Ethereum returned above $1,800, after a heavy drop of 32% in February, it fell another 18% in March, disappointing market expectations and resulting in very negative market sentiment.In the forex and commodities sector, the U.S. dollar index strengthened slightly, rising 0.18%, with a cumulative decline of 3.15% in March and a cumulative decline of 3.94% for the quarter; geopolitical tensions escalated, with U.S. oil rising over 3.05%, accumulating over 3.08% in March and up 1.39% for the quarter. Funds rushed into safe havens, with spot gold rising 1.25% to $3,145, hitting a new high, accumulating a 9.33% increase in March and an 18.48% increase for the quarter.Global major assets are affected by Trump's tariffs, and his erratic attitude exacerbates market uncertainty about future expectations. As the tariff liberation day approaches, the market feels increasingly uneasy, which may further amplify market volatility.