In the aftermath of the recent Liberation Day announcement, US equities and the dollar have continued to decline. Over the last two weeks, market volatility has been evident, with stocks experiencing fluctuations in their prices. Gold, conversely, initially dropped but soon achieved a new record high. The bond market dynamics have raised concerns regarding potential sell-offs by significant foreign holders. In response to emerging issues, the Trump administration has adjusted tariff policies, implementing increased levies on China while pausing certain rates for 90 days. These exemptions have been deemed temporary. Notably, tech giant Nvidia announced a $5.5 billion charge to its earnings in light of new restrictions imposed by the US government on sales of its chips to China. Meanwhile, Federal Reserve Chair Jerome Powell indicated that interest rate cuts are not forthcoming, despite ongoing tariff-related inflation risks. The current climate has prompted caution among investors, emphasizing the need to be vigilant regarding market developments.

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