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- Trump tariffs trigger worst sell-off since 2020
Trump tariffs trigger worst sell-off since 2020
5 articles I'm watching carefully
Tyler Dupont
April 07, 2025
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Tyler Dupont  Good morning 👋 Here's the latest news I'm tracking today. |
📈 Stocks / Finance
Trump tariffs trigger worst sell-off since 2020
Dow futures sank 3.5% Sunday after Trump’s sweeping tariffs sparked a broad market crash. The S&P 500 dropped 9.1% last week, the Nasdaq 10%, and crude fell below $60. Treasury yields plunged to 3.88% as investors braced for stagflation and recession risks.
Wedbush slashes Tesla PT 43%, Apple 23%, citing tariffs and Musk backlash
Tesla’s price target was cut from $550 to $315 and Apple’s from $325 to $250 by Wedbush’s Dan Ives, citing Trump tariffs and a worsening Musk brand crisis. Ives warned Tesla could lose over 10% of its customer base globally, while Apple faces massive exposure due to China-based production.
Wall Street warns more pain ahead as Trump tariffs hit markets
The S&P 500 posted its worst week since 2020, down 17% from February highs, with futures falling another 4-5%. Citi and JPMorgan warn Trump’s tariffs could push the U.S. into recession, and equity valuations haven’t priced in worst-case trade impacts or slowed earnings growth.
🪙 Crypto
Bitcoin tumbles below $78K as global tariffs spark market panic
Bitcoin dropped 6% to $77,887 Sunday evening amid global market turmoil following Trump’s sweeping tariffs. Over $218M in BTC long positions were liquidated. Down 15% YTD, Bitcoin is mirroring equities as fears of recession outweigh crypto-specific catalysts.
🌎 Global Economy
Oil plunges on trade war fears and rising recession odds
Oil dropped over 3% Monday, with Brent at $63.48 and WTI at $59.85, as China's 34% retaliatory tariffs stoked fears of a global recession. JPMorgan raised its recession odds to 60% by year-end, citing escalating trade tensions and collapsing investor confidence.
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