2025-04-10
On April 9, 2025, cryptocurrency and U.S.
stock market rebound immediately after U.S. President Donald Trump announced a
90-day pause on increased import tariffs for numerous countries to facilitate
trade negotiations.
This pause affects reciprocal tariffs
for 57 trading countries, including the European Union, Japan, and South Korea,
reverting their tariff rates to 10%.
However, tariffs on Chinese imports
were increased to 125% in response to China's 84% tariffs on U.S. goods. Tariffs
on imports from Canada and Mexico remain unchanged, as they are linked to
compliance with USMCA rules. Notably, 25% tariffs on steel, aluminum, and
automobiles are still in effect.
This decision led to a significant
rally in global financial markets, with the S&P 500 and Nasdaq experiencing
substantial gains.
The "Magnificent Seven" tech stocks, including companies like Nvidia stock up 18.72%, Apple stock up 15.33%, and Tesla stock up 22.69%. For cryptocurrency market Bitcoin up 7.88%, Ethereum up 13.25%, and Solana up 13.45%
While the tariff pause provides
temporary relief and aims to create space for trade negotiations, it also
introduces uncertainty regarding future trade policies and their potential
impact on various industries. The increased tariffs on Chinese imports may
further strain U.S.-China trade relations.
ARM, Rocket Labs, Applovin, Dutch Bros,
Cloudflare, and Arista Networks are some of the trending stocks before the
market dip.
While, Solana, Sui, Cardano are some of
the trending crypto before the market dip.
