From Yahoo Finance: 2025-04-03 08:34:00

President Trump has implemented a 10% baseline tariff rate on April 5, with higher rates for some countries. This move has shocked markets, leading to Dow Jones, S&P 500, and Nasdaq premarket drops. Companies like Apple, Nike, and Walmart will face tariffs, with China at 54%, Vietnam at 46%, and Japan at 24%.

Market sentiment is focused on the S&P 500 breaching its March lows, which could cause further damage to investor sentiment. Analysts are cautious, with RBC Capital Markets strategist Lori Calvasina warning of a potential 14-20% drawdown if the index breaks below the mid-March low.

Despite the market turmoil, some analysts like BTIG’s Jonathan Krinsky believe a sharp move lower could signal a short-term bottom in stocks. The reaction to the tariffs may trigger capitulation signals, potentially marking the end of the current correction. Krinsky suggests watching for a near-term inflection point in the market. 1. The CDC reports a total of 34.5 million cases and 613,000 deaths from COVID-19 in the US as of September 2021, with a surge in cases driven by the Delta variant. Hospitalizations are also on the rise, particularly among the unvaccinated population.

2. The US economy added 943,000 jobs in July, surpassing expectations and bringing the unemployment rate down to 5.4%. Job growth was primarily seen in the leisure and hospitality sector, with a notable increase in employment for restaurant workers.

3. Wildfires continue to ravage the western US, with over 100 large fires burning across multiple states. The ongoing drought and extreme heat have fueled the fires, leading to significant property damage and air quality concerns in the affected areas.

4. In a landmark ruling, the Supreme Court upheld a Texas law banning most abortions after six weeks of pregnancy. The controversial law allows private citizens to sue anyone who performs or aids in an abortion, sparking widespread debate on reproductive rights and access to healthcare.

5. The Tokyo Olympics concluded with Team USA finishing at the top of the medal table, winning a total of 113 medals, including 39 golds. Notable performances came from athletes like Simone Biles, Katie Ledecky, and Caeleb Dressel, who set new records and captivated audiences worldwide.



Read more at Yahoo Finance: Why Wall Street fears that Trump’s Liberation Day tariffs just sent the S&P 500 into a ‘growth scare’