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Markets turned sharply risk-off as President Trump’s 100% tariff announcement on China reignited trade-war fears. The S&P 500 fell around 2%, the Nasdaq plunged on megacap losses and the Dow erased significant gains. Volatility spiked, tech and crypto led declines while gold and safe-haven assets rallied as investors re-priced geopolitical and policy risk.
The US escalated trade pressure on China with a surprise 100% tariff announcement while Beijing retaliates with measures targeting US shipping. Markets and supply chains are bracing for a rapid re-escalation of the trade war.
$19B – Value of crypto liquidations in 24 hours after tariff and trade shock.
Equity markets plunged after trade headlines, wiping off huge market value from megacap tech names. The sell-off extended across benchmarks as investors re-priced growth and geopolitical risk.
Crypto markets were hit by record liquidations amid the broader risk-off move, with billions wiped from leveraged positions. The rout accelerated volatility across digital assets and spilled into correlated markets.
Applied Digital Posts Blowout Revenue Beat – Stock Surges
Applied Digital reported a strong revenue surge tied to AI data-center demand, sending the stock sharply higher as investors price in accelerated growth from AI infrastructure contracts.
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The White House has begun mass layoffs as the US government shutdown deepens, with agencies starting reductions-in-force to pressure Congress. Federal employees and services face immediate disruption.
Bond-market traders are pricing in damage from the shutdown, pushing yields and risk metrics higher. Investors are watching Treasuries for indications of longer-term economic fallout.
First Brands Faces Lender Pressure – CEO May Resign
First Brands is under intense lender scrutiny after rapid decline, with the CEO weighing resignation as creditors tighten terms and write-down risks mount across private-credit exposures.
More on ft.com
A US-brokered ceasefire in Gaza has paused large-scale fighting and prompted limited deployments to monitor the deal. Humanitarian movement and hostage releases are central to early implementation.
As ceasefire holds in Gaza, cross-border strikes and civilian returns highlight continued regional fragility. Incidents in Lebanon underscore the risk of wider escalation.
Washington announced an extra 100% tariff on Chinese goods and new export controls on critical software; the White House struck a drug-pricing deal with AstraZeneca tied to tariff relief; regulators signalled tighter AI oversight frameworks are coming.
Beijing’s rare-earth export curbs are being framed as economic statecraft, triggering alarm in chip and auto supply chains. Companies and governments are recalibrating sourcing and risk exposure.
Global financial regulators and central banks warned of systemic risks from rapid AI adoption in finance. Oversight bodies say monitoring frameworks are nascent and urgent action may be needed.
“The RIFs have begun.”
— Russell T. Vought, White House OMB Director
OpenAI’s Sora 2 launch has reignited disputes with Hollywood over copyrights and consent, drawing studio pushback. The clash spotlights legal and creative tensions as generative video tools scale.
AI’s power appetite is reshaping energy investments as data-center projects race ahead. Large funding rounds aim to convert mining and hosting sites into AI infrastructure hubs.
Central banks are accumulating gold at unprecedented rates, surpassing US Treasuries in combined holdings as investors seek safe havens. The bullion rally reflects risk aversion and fiscal strains.
The White House reached a pricing deal with AstraZeneca to lower some US drug costs, part of a wider industry push to avoid tariffs. The move has immediate market and policy implications for pharma pricing.
MIT publicly rejected a White House compact tying favorable federal access to policy concessions, signaling higher-ed resistance to political conditions on funding. The rebuff complicates administration outreach to research campuses.
A US jury ordered Samsung to pay hundreds of millions in a patent suit while big banks deploy biometric access at new HQs, underscoring legal and privacy battlegrounds in tech. Both rulings carry hefty commercial consequences.
A catastrophic blast at a Tennessee explosives plant left dozens dead and missing, prompting emergency responses and probe into safety failures. The incident raises supply-chain and production-security questions for defense contractors.
Anomalous trading on prediction platforms before the Nobel Peace Prize win has triggered investigations into potential insider betting. Regulators and the Nobel Institute are probing suspicious flows on Polymarket.
Investors are still pricing in big IPOs despite market turbulence: travel-tech Navan pushed a lofty range while prediction market Kalshi secured fresh growth capital. These moves test appetite for new listings amid volatility.
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