Wall Street saw a sharp dip in the open Tuesday as stocks earned amid fresh tariff unrest, but the Treasury rose and gold reached an all-time high.
summary
- Dow Jones Industrial Aperation fell more than 500 points as stocks penetrated amid fresh market concerns.
- The Treasury was spiked, gold rose to an all-time high, and Bitcoin mirrored stocks.
The Dow Jones industrial average dropped 500 points (over 1.1%), while the S&P 500 slipped 1.2% off 1.2%. The NASDAQ composite lowered the main gauge and slid about 1.4% open, continuing the downbeat movement described at the end of last week.
Cryptocurrency also reflects stocks, with Bitcoin (BTC) struggling for under $110,000, and Ethereum (ETH) cut profits despite rising corporate Treasury moves.
The Ministry of Finance rises, and Gold hits new
While US stocks were soaked, the Treasury Department rose, and gold reached an all-time high. The US Treasury yield jumped to 4.98% in 2010, while the benchmark 10-year yield rose to nearly 4.3%.
Elsewhere, gold prices surged to a new all-time high of $3,508 per ounce, sending precious metals past their previous peak hit in April.
Gold’s rally comes amid the market’s expectations regarding interest rates. Investors increased the odds of the Federal Reserve’s interest rate cuts in September, following hints from Fed Chairman Jerome Powell in his move in his speech at the Jackson Hole event in August.
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Fed Wall Street Eye, Tariffs
Last week’s key insights on stock market sentiment provides important insights into stock market sentiment after last week’s decline in hot inflation data. The main focus of the short trading week is the August employment report, which will be released on Friday. Prior to this, investors will need more to consume US manufacturing, job openings and private pay data.
Investors’ focus is also on the tariff front, with President Donald Trump’s trade policy taking a legitimate hit after the federal court of appeals ruled that most of Trump’s mutual tariffs were unconstitutional. The issue is probably heading towards the Supreme Court, and the market is keen on this development.
In particular, U.S. Treasury Secretary Scott Bescent said Trump has a “Plan B” if the Supreme Court upheld the Court of Appeals’ ruling.
Meanwhile, Trump’s escalating feud with the Fed has sparked fresh anxiety among investors. The previous marker could be a “removal” ruling of federal government Gov. Lisa Cook, as Wall Street considers what the Trump-Fed federal federal federal federal federal federal federal federal federal federal federal federal federal federal independence.
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