The markets witnessed a clear decline due to escalating trade tensions and sudden economic policies.
Key developments:
📉 US stocks:
Dow Jones fell 270 points (0.7%)
S&P 500 decreased by 0.9%
Nasdaq 100 dropped 1.1%
The reason: Trump's decision to impose a 100% tariff on foreign films, which increased fears of a new trade war.
💻 Tech and media companies:
Nvidia: -1.4%
Tesla: -0.9%
Netflix: -6%
Disney: -3%
📊 Earnings expectations:
S&P 500 companies' earnings expectations for the second quarter have been revised down by 2.4%, which is higher than the normal rate (1.9%).
⚠️ Outlook:
I expect continued volatility in the near term.
#MarketPullback $BTC $ETH $XRP
