4E: Trump's tariffs have repeatedly exacerbated market unease, and tonight's CPI data has become a key variable
On March 12, according to 4E monitoring, Trump reversed his tariff policy on Canada several times on Tuesday, driving the market to stage a "roller coaster" market. The US stock market rose at the beginning of the session, and then Trump announced a 25% tariff on Canadian steel and aluminum, and the three major indexes fell. Soon there was news that the policy was suspended and the two sides would renegotiate, but the downward trend of US stocks did not change. The market changed again after midday, and Ukraine agreed to a 30-day truce. Large technology stocks bottom fishermen emerged one after another, boosting US stocks to a new high, but they weakened again in late trading. By the end of the session, all three major stock indexes closed down, the Dow fell 1.14%, the S & P 500 fell 0.76%, and the Nasdaq fell 0.18%. Most of the tech giants rose.
The crypto market rebounded significantly. Bitcoin rebounded to above $83,000 from a low of $76,606, rebounding more than 8%, reversing yesterday's rapid decline. Ethereum rebounded to $1,920 from a low of $1,754, rebounding more than 9%. Some counterfeit products rebounded even more. The total market value of cryptocurrencies rebounded slightly to $2.77 trillion, up 2.5% in 24 hours, and market sentiment improved slightly.
Uncertainty over Mr. Trump's recent tariffs continues to hit markets, with the potential impact on consumers and the economy already dampening sentiment on Wall Street. The CPI report at 8:30 tonight has been closely watched as investors look to gauge whether concerns about economic stagflation are justified. If the data is higher than expected, the market could plunge again.