4/7
Macroeconomics
1. Since the escalation of the tariff war last week, we have taken countermeasures, starting from April 10th to impose a 34% equivalent tariff on the US, along with heavy export controls on rare earths. The EU is also introducing new tools to counteract coercion, mainly France, Germany, and Spain believe that only by targeting the service sectors that the US heavily relies on can they establish effective bargaining chips.
2. Impacted by tariffs, the US stock market has once again plummeted, with the Dow dropping more than 2,000 points on Friday, the S&P 500 down nearly 6%, and the Nasdaq overall down 10% last week, marking the largest weekly drop since the mask period, with the Nasdaq entering a technical bear market.
3. Asian stock futures once again plummeted in early trading today, with S&P 500 futures down more than 5%, Dow futures down more than 4%, and Nasdaq 100 futures down more than 5%. Hong Kong stocks and A-shares also opened lower, with the Hang Seng Index down 9% and the Shanghai Composite down 4%. Japan and South Korea also declined, with South Korea down more than 4% and Japanese stocks down more than 2%. Essentially, everything is falling.
4. The global financial market has been significantly impacted by tariffs, so Bitcoin is also affected. Last Friday, it felt like it was somewhat isolated with a strong price performance, but this morning it finally couldn't hold on and fell below 80,000.
5. If things go poorly with the US stock market, there might even be a circuit breaker tonight.
6. Besent may face issues with leaving his position. The media reported that several hedge fund managers have contacted Besent, hoping he could influence Trump regarding the tariff issue, but Besent did not play a major role. The focus is primarily on the decline of the US stock market this week.
Hot Topics (Not much of a hot topic)
Babylon is about to issue a token and has entered into An An's pre-market contract. After this pre-market contract is established, the price is still considered reasonable. In short, with the current state of Bitcoin, there is no need to elaborate on other sectors.
