{"id":5141,"date":"2025-04-07T18:43:05","date_gmt":"2025-04-08T01:43:05","guid":{"rendered":"https:\/\/abovecloud.xyz\/?p=5141"},"modified":"2025-04-07T18:43:32","modified_gmt":"2025-04-08T01:43:32","slug":"extreme-volatility-sends-us-stocks-on-a-roller-coaster-ride-as-wall-street-is-rattled-by-tariffs","status":"publish","type":"post","link":"https:\/\/abovecloud.xyz\/?p=5141","title":{"rendered":"Extreme volatility sends US stocks on a roller coaster ride as Wall Street is rattled by tariffs"},"content":{"rendered":"\n

US stocks mostly fell after an extremely volatile day Monday \u2014 tumbling, surging and then bouncing around in every direction, as traders searched for any sign that President Donald Trump\u2019s tariffs could be negotiated or halted.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Markets around the world had tumbled earlier in the day over concerns about how Trump\u2019s sweeping tariffs<\/a> might upend the global economy and stymie economic growth. US stocks opened the day in bear market territory but surged an hour later on rumors that the Trump administration may pause tariffs \u2014 perhaps for several months.<\/p>\n\n\n\n

That rumor turned out to be just that \u2014 a White House official called any suggestion that Trump would pause tariffs \u201cfake news.\u201d And despite signs that some trading partners, including the EU, might be willing to negotiate with Trump, the president dashed those detente hopes when he said he could slap another 50% tariff on China.<\/p>\n\n\n\n

And just like that, the Dow, which had risen nearly 900 points, was back down once again.<\/p>\n\n\n\n

After a roller coaster day, the Dow closed lower by 349 points, or 0.91%. The broader S&P 500 fell 0.23%. The Nasdaq Composite was 0.1% higher after fluctuating between gains and losses.<\/p>\n\n\n\n

Wall Street\u2019s fear gauge, the Cboe Volatility Index, or VIX, on Monday closed at the highest level since the Covid pandemic as investors fretted over the market\u2019s next move. The VIX surpassed an intraday level of 50 points midday Monday, a rare level associated with extreme volatility.<\/p>\n\n\n\n

The wild swings in markets underscore just how badly investors want Trump to put a pause on his trade war. US stocks surged off their lows on rumors of a pause on tariffs. However, that rebound proved fleeting as traders realized nothing official had been announced.<\/p>\n\n\n\n

\u201cThat was a good example of what would happen if we actually got some rational thought mixed in with the ignorant tariff policy,\u201d Art Hogan, chief market strategist at B. Riley Wealth Management, told CNN in a phone interview Monday. \u201cThe stock market vigilantes have spoken loudly that we need rational thought mixed in with this trade policy. And there is none so far.\u201d<\/p>\n\n\n\n

Hogan added that oversold markets desperate for good news are subject to wild swings that can quickly reverse.<\/p>\n\n\n\n

The S&P 500 hit its low of the day at 9:43 a.m. ET and then surged on the rumor that Trump might pause tariffs, hitting its highest level of the day at 10:17 a.m. ET. In the span of just over 30 minutes, the S&P 500 surged 8.5%, a massive swing in markets. The benchmark index then shed its gains as the market came back down.<\/p>\n\n\n\n

\u201cThat was a monster move off the low,\u201d Joe Saluzzi, partner and co-founder of Themis Trading, told CNN.<\/p>\n\n\n\n

One of the positive swings Monday came when Ursula von der Leyen, a top European Union official, said the bloc is \u201cready to negotiate\u201d with the United States, noting that it has offered to scrap tariffs on US industrial goods.<\/p>\n\n\n\n

But Trump told reporters in the Oval Office Monday afternoon that he is \u201cnot looking\u201d at implementing a pause in enforcing the tariffs that he announced last week.<\/p>\n\n\n\n

\u201cWell, we\u2019re not looking at that. We have many, many countries that are coming to negotiate deals with us,\u201d Trump said. \u201cAnd they\u2019re going to be fair deals. And certain cases, they\u2019re going to be paying substantial tariffs. They\u2019ll be fair deals.\u201d<\/p>\n\n\n\n

The volatility in markets went beyond just stocks. The yield on the 10-year Treasury note, which had slid below 4% at the end of last week, rose to 4.155% as investors sold off bonds. Yields and bond prices trade in opposite directions.<\/p>\n\n\n\n

Flirting with a bear<\/h2>\n\n\n\n

At the open, the S&P 500 tumbled into bear market territory \u2014 a decline of 20% from its recent peak \u2014 before pulling back. The volatility in US stocks came after a\u00a0historic rout in Asia<\/a>\u00a0and massive losses in Europe.

Wall Street is coming off a rout in US stocks Thursday and Friday that saw the Nasdaq confirm it was in a bear market. Investors may be sensing a buying opportunity. With all the recent and rapid selling, stocks are getting cheap. Some stocks are trading at a historically inexpensive multiple of 15 times future earnings projections, according to James Demmert, chief investment officer at Main Street Research. That could help markets rebound if investors believe stocks are oversold.<\/p>\n\n\n\n

\u201cWe are getting close to a bottom,\u201d said Demmert. \u201cThe fact that stocks have dropped so significantly in these deep intraday moves is a clear sign of indiscriminate and fear-based selling. When this happens, we tend to soon see significant rallies.\u201d

That could also muddy the message Wall Street has been trying to send to President Donald Trump. Market mayhem has potentially opened the door to some negotiation.<\/p>\n\n\n\n

If the stock market pulls back from its extensive declines, Trump may get the message that he can hold firm and weather the market storm, some market analysts said.<\/p>\n\n\n\n

\u201dWe need this market to crash \u2014 to keep the pressure on the administration,\u201d Ed Yardeni, president of Yardeni Research, told CNN in a stunning comment from a prominent market analyst.<\/p>\n\n\n\n

Yardeni noted to clients earlier in the day that \u201cLiberation Day\u201d has been followed by \u201cAnnihilation Days\u201d in the stock market.<\/p>\n\n\n\n

World leaders discuss approach to tariffs<\/h2>\n\n\n\n

As markets whipsawed Monday morning, Trump said in a social media post<\/a> that he\u2019s ready to slap new 50% tariffs on China following Beijing\u2019s retaliatory duties<\/a> announced last week, further escalating the global trade war that has rattled markets.<\/p>\n\n\n\n

Trump said the additional tariffs would take effect midweek if China doesn\u2019t remove its 34% retaliatory tariff by Tuesday. He also said meetings China had requested would be cancelled, though he said other countries would begin negotiating on trade immediately.<\/p>\n\n\n\n

Across the Atlantic, von der Leyen, president of the EU\u2019s executive arm, said the bloc was ready negotiate and offered to scrap its tariffs on industrial goods. Von der Leyen said the zero-tariff offer was made \u201clong before\u201d Trump\u2019s latest tariff announcement and \u201crepeatedly, for example, in the automotive sector.\u201d She stressed that the EU has long gone \u201czero for zero with other countries that also have a strong automotive sector.\u201d

At the same time, the EU is willing to play hardball: Although it would prefer to strike a \u201cnegotiated settlement,\u201d the bloc is also \u201cpreparing a potential list (of US imports) for retaliation,\u201d von der Leyen told reporters in Brussels.<\/p>\n\n\n\n

CNN\u2019s Fear and Greed Index<\/a> slumped to its lowest level this year as tariff anxiety roiled Wall Street.<\/p>\n\n\n\n

As stocks initially wavered Monday morning, Trump posted <\/a>on social media that, \u201cCountries from all over the World are talking to us.\u201d<\/p>\n\n\n\n

Trump said, \u201cTough but fair parameters are being set,\u201d and mentioned that he spoke with Japanese Prime Minister Shigeru Ishiba.<\/p>\n\n\n\n

Ishiba urged Trump in a call on Monday to reconsider the tariffs he imposed on Japan, according to a press statement from his office.<\/p>\n\n\n\n

Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will lead United States negotiation with Japan on trade, Bessent announced on social media on Monday.<\/p>\n\n\n\n

Trump, for his part, has also tried to make the case that recession fears could be a good thing. For example, US oil prices plunged below $60 for the first time since April 2021 on fears that global demand will be sapped in an economic downturn. And Treasury yields have fallen as investors have poured money into the apparent safety of government bonds. That could lower some consumer rates pegged to Treasury yields, including mortgages, credit cards and auto loans \u2013 although Federal Reserve Chair Jerome Powell said<\/a> Friday the central bank was in no rush to lower rates.<\/p>\n\n\n\n

\u201cOil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place,\u201d Trump said in a social media post<\/a> Monday morning.<\/p>\n\n\n\n

Tariff uncertainty roils global markets<\/h2>\n\n\n\n

Trump and his tariffs have taken a bull stock market and are on the cusp of turning it into a bear faster than any president has overseen in modern history<\/a>.<\/p>\n\n\n\n

It\u2019s not just US markets that are taking a hit from Trump\u2019s tariffs. Stocks around the world have declined as Trump\u2019s tariffs rattle markets. Europe\u2019s benchmark STOXX 600 index sank 4.5% on Monday. London\u2019s benchmark FTSE 100 index dropped 4.38%. Germany\u2019s DAX index sank 4.13%. Italy\u2019s benchmark stock index tumbled 5.18%.<\/p>\n\n\n\n

In Asia, Japan\u2019s Nikkei 225 index plunged 7.83%. Hong Kong\u2019s Hang Sang index plummeted 13.22%, its worst single trading day since 1997. Taiwan\u2019s benchmark index sank 9.7%. The Shanghai Composite index fell 7.34% and the Shenzhen Composite index sank 9.66%.<\/p>\n\n\n\n

Among the reasons for the bearish sentiment is the uncertainty the Trump administration has created regarding its inconsistent messaging about whether tariffs would be open to negotiation.

On Wednesday, America will impose significantly higher \u201creciprocal\u201d tariffs on dozens of countries that have the highest trade imbalances with the United States. In a note to investors Sunday, Goldman Sachs said that if Trump followed through with those threats, it would surely plunge the US and global economies into a recession. JPMorgan CEO Jamie Dimon said in an annual letter<\/a> to shareholders Monday that Trump\u2019s tariffs would raise prices and slow economic growth.<\/p>\n\n\n\n

In addition to baseline 10% universal tariffs that went into effect Saturday morning, Trump has also put in place tariffs on autos, steel and aluminum. He placed 25% tariffs on certain goods from Canada and Mexico. And more tariffs could be on their way: Tariffs on auto parts are set to go into effect no later than May 3. Meanwhile Trump has also threatened tariffs on lumber, pharmaceuticals, copper and microchips, among other products.<\/p>\n\n\n\n

Whether or not Trump follows through with those threats could be the determining factor in whether the economy plunges into a global downturn.<\/p>\n\n\n\n

If you ask Commerce Secretary Howard Lutnick, Trump isn\u2019t bluffing.<\/p>\n\n\n\n

\u201cThe tariffs are coming. (Trump) announced it, and he wasn\u2019t kidding,\u201d Lutnick told CBS\u2019s \u201cFace the Nation\u201d on Sunday. \u201cThe tariffs are coming. Of course they are.\u201d

Reprinted from CNN<\/p>\n","protected":false},"excerpt":{"rendered":"

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