- President Trump is layering tariff upon tariff—he added 30% to Mexico and Europe over the weekend—and the markets are still trading near their all-time highs on the assumption that Trump will back down. They’re also betting that the Fed will ease interest rates if the tariffs hurt the U.S. economy. But that might not happen if the Fed prioritizes controlling inflation over rescuing the stock market.
Markets are sitting near their all-time highs this morning in Europe, Asia, and the U.S. Bitcoin hit $122K earlier today. There has been a moderate amount of selling this morning but nothing to worry about.
