On March 25, Trump planned to take a more targeted approach to the "reciprocal tariffs" launched on April 2, easing market concerns that his escalating trade war could exacerbate inflation and drag down the economy. At the same time, the US services PMI rebounded, driving the overall PMI to improve. The good news boosted US stocks across the board, with the S&P 500 closing up 1.76%, the Dow up 1.42%, and the Nasdaq climbing 2.27%. Large technology stocks generally strengthened, with Tesla soaring more than 11.9%, the largest single-day gain since the day after the election.
The recent trend of the crypto market has been consistent with that of US stocks. Strategy purchased 6,911 bitcoins for $584.1 million last week to boost market confidence. Bitcoin rose all the way yesterday, and once rose to $88,765 after the opening of the U.S. stock market. At the time of writing, it fell slightly and was temporarily reported at $87,030, with a 24-hour increase of 1.7%. Among the top ten mainstream currencies, SOL rose even more strongly, and is now reported at $140, an increase of 5.17%. All sectors of the market rose generally, with the Meme sector leading the rise by 7%.
In terms of foreign exchange bulk, investors' concerns about Trump's tariff plan on April 2 have cooled down, the US dollar index rose 0.25%, and US oil rose 1.2%; the strengthening of the US dollar and the historical high gold prices led investors to take profits, and spot gold fell 0.30%.
Trump will soften his radical stance on imposing tariffs on trading partners, while other macroeconomic indicators have also pointed in a more favorable direction in the past few days, raising market optimism. Investors are currently closely watching Trump’s latest plan for “reciprocal tariffs” to assess its potential impact on economic growth and inflation.
