#tarriffs

Trump’s tariff threats, Bitcoin surges, stocks and bonds slide as Gold and Oil climb

Stocks and Bonds Struggle.

Trump turns up the heat on Tariffs leaving GS surprised!

Both Kevin’s vying for position.

Bitcoin kisses $120k – it is Bitcoin Week in DC.

Oil up, Gold up, Yields up.

Try the NE Clam Chow-Dah!

Here we go again – Trump turns up the heat on tariffs, the VIX rallied by 3%, the RSI signaled overbot, and don’t forget that Goldman raised their outlook on US stocks telling clients to buy (which I said on Thursday was a SELL signal), they turn up the heat on JJ to cut rates (Trump again telling us yesterday that the US should have the lowest rates on earth) while Kevin Hasset (himself a potential FED chair) tells us that Trump can in fact fire JJ, Bitcoin continues to push up (this morning it is trading at $120,000), remember – this is crypto week in DC so the focus is squarely on that industry. Oil rose on the idea that the US is trying to stop Russian energy exports to put pressure on Vlad to stop his assault on Ukraine, and gold rallied. Of course it rallied – the tone is becoming more anxious – what did you think was going to happen? And with that stocks and bonds sold off.

The Dow lost 280 pts, the S&P down 20 pts, the Nasdaq lost 45 pts, the Russell lost 28 pts, the Transports gave back 107 pts, the Equal Weight S&P lost 56 pts, while the Mag 7 bucked the trend and rose by 104 pts.