China said it would “fight to the end” and take countermeasures to “safeguard its own rights and interests” after United States President Donald Trump escalated his tariff threats against the Asian nation. The statement came after Trump said on Monday that he would impose an additional 50% tariff on China, effective Wednesday, if Beijing doesn’t withdraw its 34% retaliatory tariff on US goods. “The US’ threat to escalate tariffs on China is a mistake on top of a mistake, which once again exposes the US’ blackmail nature,” China’s Commerce Ministry said. “China will never accept this. If the US insists on its own way, China will fight to the end,” the ministry stressed.
China says will ‘fight to the end’ Against Us Tariffs
China said it would “fight to the end” and take countermeasures to “safeguard its own rights and interests” after United States President Donald Trump escalated his tariff threats against the Asian nation.
The statement came after Trump said on Monday that he would impose an additional 50% tariff on China, effective Wednesday, if Beijing doesn’t withdraw its 34% retaliatory tariff on US goods. “The US’ threat to escalate tariffs on China is a mistake on top of a mistake, which once again exposes the US’ blackmail nature,” China’s Commerce Ministry said.
“China will never accept this. If the US insists on its own way, China will fight to the end,” the ministry stressed.
nickguarino.com
Dow back to negative 1,000 pts on Trump’s threats
Major stock exchanges continued to crash on Monday after United States President Donald Trump shared new comments regarding his foreign trade policy. The US head of state warned China that should it go ahead with its retaliatory measures, it would be slapped with an additional 50% tariff. Global markets have been in disarray since April 2, when the new US duties were announced. Earlier today, a fake report on potential tariff delay brought a brief respite to investors, but the White House’s denial of the news quickly pushed markets back into the red territory. The Dow Jones slid 1,075 points or 2.80% at 11:29 am ET. A minute later, the Nasdaq 100 plunged 1.77% and the S&P 500 nosedived 2.11%.
White House says 90-day pause in levies ‘fake news’
CNBC retracted on Monday its earlier story suggesting that White House NEC Director Kevin Hassett indicated US President Donald Trump was evaluating a 90-day suspension of tariffs, with China being the exception.
“Fake news,” the media outlet stated, quoting White House Press Secretary Karoline Leavitt.
US stocks have swiftly undone their recovery, erasing advances and shifting sharply into declining territory after the headline attributed to Hassett was debunked.
Hassett: Trump weighs global 90-day tariffs halt except China
United States National Economic Council Director Kevin Hassett told CNBC on Monday that President Donald Trump is considering pausing tariffs for all countries except China for a period of 90 days.
More to come…
Black Monday hits Europe, DAX sinks 8%
European markets plunged again Monday as investors reacted to US President Donald Trump’s sweeping tariffs of 20% on the European Union, and 25% on all foreign cars. The continued sell-off followed Trump’s Sunday remarks claiming tariffs were the only fix for the “massive” trade deficit with the bloc and other major economies. EU trade ministers are expected to plan a joint response today amid growing pressure to counter Washington’s aggressive stance.
At 9:00 am CET, the German DAX sank 8.04% or 1,663 points as Commerzbank slumped 12.20%. The Euro Stoxx 50 dipped 6.83% with Siemens AG crashing 10.07%. The British FTSE 100 fell by 4.57% as F&C Investment Trust nosedived 8.38%. The French CAC 40 fell by 2.12% with Bureau Veritas retreating 8.59%. Italy’s FTSE MIB plummeted by 7.50% as Assicurazioni Generali slid 7.13%. Switzerland’s SMI lost 5.94% with Roche Holding tumbling 4.39%. Spain’s IBEX 35 nosedived by 5.30% with ACS crashing 22.42%.
The euro traded 0.35% higher against the dollar at 8:59 am CET to sell for $1.10017. Simultaneously, the pound sterling was flat against the United States currency to change hands for $1.29010.
Bitcoin falls below $75,000, lowest since November 2024
The cryptocurrency market dipped on Monday, with Bitcoin trading at its lowest since the November 2024 US election rally. The cryptocurrency market experienced significant losses as global markets faced considerable stress due to the US administration’s implementation of reciprocal tariffs. At the same time, Ripple’s XRP dropped by 20%, BNB fell by 9%, and Solana declined by 17%. At 2:44 am ET, Bitcoin was down 4.32%, selling at $74,981.94. Ethereum posted even deeper losses, falling 7.18% to $1,466.22.
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Blood in the streets….. AND ITS YOURS
Trump calls this medicine temporary in nature. I call this a bear market and the start of a great depression
nickguarino.com
Nasdaq futures crash 4%, Dow dives 1,000 points amid trade war
Wall Street is set to extend its crash on what could be called the next Black Monday as concerns over the tariffs imposed by United States President Donald Trump continue to affect markets around the world, index futures showed.
The Nasdaq 100 futures nosedived 4.27% at 1:50 am ET, the Dow Jones futures slumped 2.75% or 1,000 points and the S&P 500 futures plummeted 3.44% at the same time.
The euro gained 0.50% against the dollar to sell for 1.10209 at 2:02 am ET.
NN: trump calls this medicine temporary in nature. I call this a bear market and the start of a great depression
U.S. stocks see biggest 2-day wipeout in history
market loses $11 trillion since Inauguration Day
Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed. U.S. Market CapU.S. stocks have wiped away more than $11 trillion since Inauguration DaySource: Dow Jones Market Data
Many investors were caught flat-footed on Wednesday when Trump unveiled sweeping global tariffs that were much larger than expected.
Financial markets have since been heaping pressure on the administration to step in and pare back the planned levies or to announce meaningful progress toward a deal, said Kathleen Brooks, research director at XTB, in emailed commentary Friday. President Trump earlier in the session touted a productive phone call with the leader of Vietnam in a post on Truth Social. Shares of Nike Inc. Recession risks remained front and center Friday. Even a stronger-than-expected March jobs report wasn’t enough to lift investors’ mood. As the weekend approached, fears were focused on a trade-war escalation where “the U.S. doesn’t back down,” said Jay Woods, chief market strategist at Freedom Capital markets, in comments shared with MarketWatch via email. “If we are to punch back, you could have damaging effects to not only the tech sector, but the economy overall. This could throw us into a recession and could end the bull market as we know it.”
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