US stocks danced on the edge of uncertainty, their rhythm disrupted by the persistent drumbeat of tariff fears. The U.S., ever the reluctant negotiator, made strides so small they could be mistaken for standing still. 🤷♂️
Tariff anxieties clung to the market like a bad hangover, prompting a correction after a brief, almost apologetic, uptick. Stocks meandered aimlessly, their volatility a shadow of last week’s rollercoaster ride. 🎢
On April 15, the S&P 500 inched up 0.04%, or 2.20 points, to 5,408.17. The DOW Jones, ever the contrarian, dipped 16.43 points, or 0.04%, to 40,508. Meanwhile, the tech-heavy Nasdaq, perhaps feeling a bit under the weather, slipped 0.06%, or 10.76 points, to 16,822.73. 📊
Bitcoin, however, was the star of the show, its volatility leaving stocks in the dust. On Tuesday, April 15, Bitcoin (BTC) hit a daily high of $86,429 before settling at $84,949, marking a 0.47% daily increase. 🚀
U.S. trade war: The gift that keeps on giving
The 90-day tariff pause was a brief respite, but the markets remain on edge, wondering how long this calm will last. Negotiations with key trading partners are moving at a pace that would make a snail blush, raising fears that historic tariff rates might make a comeback. 🐌
Bloomberg reports that the EU expects the 25% tariffs on all exports to stick around, as talks with the U.S. have hit a wall. The EU’s “zero-for-zero” proposal for industrial exports was met with a resounding “no” from the U.S. 🤦♀️
The Trump administration, ever the skeptic, believes that foreign jurisdictions, including the EU, use non-tariff barriers to stifle exports. This, of course, makes negotiations as smooth as a sandpaper handshake. 🤝
Industry subsidies, consumer protection standards, food safety laws, and even VAT taxes are all up for debate. With such a smorgasbord of issues, it’s anyone’s guess whether the U.S. can seal the deal by the 90-day deadline. 🕰️
Talks with China are also stuck in the mud, though Trump’s decision to exempt smartphones from the 145% tariffs on Chinese goods offers a glimmer of hope. These smartphones, made by Chinese firms for companies like Apple, will now face a different rate. 📱
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2025-04-15 21:43