New Round of Tariff Impact, US Stocks Retreat from Historical Highs
US President Trump sent out tax rate letters to various countries on Monday, including:
- Imposing 25% tariffs on goods from Japan, South Korea, and Malaysia
- Imposing 32% tariffs on Indonesia; 35% tariffs on Bangladesh
- Imposing 36% tariffs on Thailand and Cambodia
- Imposing 40% tariffs on Laos and Myanmar
White House Press Secretary Karoline Leavitt stated that about a dozen countries will directly receive tariff notifications from the president on Monday. She mentioned that more letters will be sent in the coming days.
Trump also signed an executive order extending the "reciprocal" tariff deadline from Wednesday to August 1, citing the decision was "based on supplementary information and recommendations from senior officials".
Investors Focus on Federal Reserve Meeting Minutes and Upcoming Earnings Season
So far, the US economy remains stable, with good employment conditions and moderate inflation. Despite Trump's pressure for rate cuts, the Federal Reserve remains cautious about tariffs and hopes to observe the impact on output in the coming months.
Investors will analyze the Federal Reserve's June policy meeting minutes on Wednesday.
Additionally, the US stock earnings season is about to begin, and investors hope the upcoming earnings season will serve as a catalyst for the S&P 500 index to continue its upward trend.
BTC at 108K, Volatility Maintained at Low Point
Bitcoin retreated from above 109K but maintained a relatively stable trend, reporting at $108,295 before closing, while Ethereum remained above $2,500, with the Coinglass Fear and Greed Index still in the 74 greed zone. The Bitcoin volatility index (DVOL) remained at a two-year low of 38.67, suggesting the era of dramatic crypto market fluctuations may be over.
(Bitcoin Volatility Drops to Two-Year Low, Will Traditional Finance Make BTC More Stable?)
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