Bets on an emergency Federal Reserve rate cut are rising sharply Monday, as mounting fears of a looming U.S. recession and sudden, severe stock market crashes &#8211; already erasing trillions in market value &#8211; prompt speculators to anticipate swift central bank action <a href="https://www.benzinga.com/topic/federal-reserve">ahead of scheduled meetings.</a>



On the CFTC-regulated prediction market platform Kalshi, contracts betting on "the number of emergency rate cuts this year" have gained notable traction in recent hours.



Odds eyeing two emergency cuts equivalent to 50 basis points in rate easing have spiked to 10% from nearly null chances a week ago. The last time the Fed executed an emergency cut was in March 2020, when it slashed rates by 50 basis points amid the escalating COVID-19 crisis.



A $10 bet on two emergency rate cuts—equivalent to a half-point drop in interest rates—would return $90 if realized. 



Meanwhile, Fed futures are now pricing in five rate cuts by the end of the year, according to the CME FedWatch tool.



Traders are growing wary of cracks in the U.S. economy. The sudden rise in rate cut wagers reflects a broader fear: that either markets or the macroeconomic picture could deteriorate so quickly that the Fed is forced to step in ahead of schedule.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/KXEMERCUTS-25?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;ids=KXEMERCUTS-25-T0&#038;ids=KXEMERCUTS-25-T2&#038;ids=KXEMERCUTS-25-T1&#038;utm_campaign=benzinga_widget" width="488px" height="196px" style="border:0"></iframe>



<h3 class="wp-block-heading">Conspiracy Theories of A Self-Engineered Recession Emerge</h3>



Fueling the speculative fire are political theories that the Trump administration may be intentionally inducing a recession. 



The logic? Lower inflation, lower interest rates and stronger control over monetary conditions.



On Monday, Trump took to Truth Social with a bold message: "Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION." He also emphasized the revenue generated from tariffs, claiming the U.S. is "bringing in Billions of Dollars a week from the abusing countries."



Last Friday, Trump openly urged Fed Chair Jerome Powell to act swiftly. "This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always &#8216;late,&#8217; but he could now change his image, and quickly."



Peter Navarro, former trade adviser, downplayed the recession fears entirely, stating, "Any discussion of recession seems silly at this moment."



Larry Tentarelli, chief technical strategist at Blue Chip Daily Trend Report, now sees a 50% base-case probability for a 2025 recession — especially if the "tariff news cycle remains unchanged." 



Tentarelli warns that the absence of a so-called "Fed put" — the idea that the Fed will always step in to stabilize markets — leaves the economy more exposed than usual.



Goldman Sachs has revised its recession odds up to 45%, while JPMorgan has gone even higher, projecting a 60% chance.



<h3 class="wp-block-heading">Yardeni Pushes Back On Political Manipulation Narrative</h3>



Not all agree with the conspiracy framing. Market veteran Ed Yardeni dismissed the theory that Trump is engineering a downturn to drive rates lower. 



Still, he outlined how the idea has gained traction. First, a recession could weaken the dollar, stimulate exports and shrink the U.S. trade deficit.



Subsequently, Trump's tariffs could push manufacturers back to U.S. soil while reducing the foreign demand for American agricultural products.



In the end, lower inflation from these forces could justify a looser Fed policy and potentially lower mortgage rates.



Still, Yardeni warned that even if these theories are unfounded, the consequences of poor economic management are real and potentially devastating.



&#8220;We believe that Wall Street and Main Street prosper and suffer together. The Trump administration disagrees,&#8221; he said in a note Monday.



The S&amp;P 500 index—as tracked by the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)—has lost 13% since Trump&#8217;s tariff announcement last Wednesday, notching one of the deepest and fastest selloffs in modern history.



<h3 class="wp-block-heading">Stock Market Exposure Raises Stakes For American Households</h3>



The stock market's vulnerability is perhaps the most immediate concern. According to Gallup's latest poll, 62% of U.S. adults hold some form of stock market investment. 



That figure jumps to 87% among upper-income Americans earning more than $100,000 a year, while 65% of middle-income earners also have market exposure. Among lower-income households earning below $40,000, the rate falls to 25%.



Data from the Federal Reserve shows that U.S. households and nonprofit organizations now hold a record 43.5% of their financial assets in equities. This heavy concentration means that a sharp drop in stock prices could have outsized effects on consumer spending and confidence. 



At the end of 2024, American households held $46.8 trillion in corporate equities and mutual funds. Of that, Baby Boomers alone controlled $25.2 trillion. A 20% decline in equity prices would wipe out $9.4 trillion in household wealth — including $5 trillion from Baby Boomer portfolios, many of which are meant to fund retirements.



This sets up a dangerous dynamic: if equity markets keep falling, the resulting negative wealth effect could lead to a deep contraction in consumption, hitting middle- and lower-income households the hardest.



The confluence of economic signals, political pressure and financial market stress is pushing the Federal Reserve closer to a moment of reckoning. 



Whether the recession is engineered or not, the damage is mounting. 



Read now: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44662991/goldman-sachs-raises-risk-of-recession-to-45-jefferies-calls-tariffs-a-free-hall-pass-for-tech-giants-to-reset-their-goals">Goldman Sachs Raises Risk Of Recession to 45%: Jefferies Calls Tariffs a &#8216;Free Hall Pass&#8217; For Tech Giants To Reset Their Goals</a></li>
</ul>



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Emergency Fed Rate Cut Odds Spike As Trump Says 'No Inflation,' Calls for Immediate Action

Last week, the price of WTI crude oil recorded its largest weekly loss in two years after President Donald Trump announced a tougher-than-anticipated set of tariffs, prompting swift retaliation from China, the world's<a href="https://www.benzinga.com/25/04/44663034/asia-in-freefall-hang-seng-posts-worst-drop-since-1997-europe-market-tumbles-oil-slips-gold-eases-global-markets-today-while-us-slept"> largest importer of oil.&nbsp;</a>



WTI futures fell further on Monday to just above $60 per barrel, the lowest level since April 2021, as concerns that the escalating trade war could slow the global economy and weaken energy demand.



Economists at Goldman Sachs published a note on Sunday night raising their recession <a href="https://www.benzinga.com/25/04/44665493/us-recession-countdown-has-begun-as-trump-tariffs-push-odds-to-45-goldman-sachs-warns">probability forecast </a>from 35% to 45%, citing the sharp tightening of financial conditions and a spike in policy uncertainty.



Read Next:<a href="https://www.benzinga.com/government/regulations/25/03/44517885/trump-slaps-25-tariffs-on-autos-what-it-means-for-your-next-car-purchase"> Trump Slaps 25% Tariffs On Autos: What It Means For Your Next Car Purchase</a>&nbsp;



Energy analysts at Goldman Sachs followed by further reducing their year-end oil forecasts to $62 per barrel for Brent and $58 for WTI, with additional downside expected in 2026. The analysts noted recent GDP downgrades and forecasts of a "stagnating" U.S. economy.&nbsp;



Adding to the pressure on oil prices, last week, eight OPEC+ oil producers announced nearly triple the expected production increase to 411,000 barrels per day versus the anticipated increase of just under 140,000 barrels per day next month. 



At $60 per barrel for WTI crude, prices have fallen below the $65 threshold identified by the Federal Reserve Bank of Dallas as the break-even point for Permian Basin operators like Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>). 



However, Energy Secretary Chris Wright recently said that the U.S. shale sector is capable of ramping up oil production even if prices fall to $50 per barrel.&nbsp;



In the Federal Reserve Bank of Dallas' most recent quarterly survey, leaders in the oil and gas industry <a href="https://www.benzinga.com/markets/commodities/25/03/44522105/oil-and-gas-executives-rebuke-trumps-drill-baby-drill-agenda-we-want-more-stability">expressed frustration</a> with the Trump administration.



"The administration's chaos is a disaster for the commodity markets. ‘Drill, baby, drill' is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn't have a clear goal. We want more stability," one exploration and production executive said.



Shares of the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) ETF, which tracks the spot price of WTI crude oil, were down nearly 15% over the past week. At the time of publication on Monday, WTI crude was trading at $60.90 per barrel. 



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/news/large-cap/25/03/44537429/cathie-wood-doubles-down-on-2600-tesla-stock-price-prediction">Cathie Wood Doubles Down On $2,600 Tesla Stock Price Prediction</a></li>
</ul>



Image: Shutterstock

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Oil Crashes To $60 Per Barrel As Global Recession Fears Grow

Goldman Sachs economists have sounded the alarm on the U.S. economy, launching what they termed a &#8220;countdown to recession&#8221; as Donald Trump's aggressive tariff policy derails economic forecasts.



In a note shared Monday, the Goldman Sachs economic team led by Jan Hatzius downgraded its U.S. gross domestic product forecast for year-end 2025 to just 0.5% year-over-year, down from 1.7% previously. 



The downgrade follows a combination of shocks, including higher tariffs announced by the Trump administration, tightening financial conditions and rising geopolitical friction, that the bank says are disproportionately affecting lower-income Americans and threatening to derail the U.S. economy.



Traders on CFTC-regulated betting platform Kalshi currently price in a 66% chance of a U.S. recession this year, up from 40% last week.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/RECSSNBER-25/markets/RECSSNBER-25?color_scheme=light&#038;widget_size=large&#038;utm_campaign=benzinga_widget" width="552px" height="400px" style="border:0"></iframe>



<h3 class="wp-block-heading">Trade War Reloaded? What's Behind The Rising Recession Call</h3>



Goldman Sachs said its baseline scenario still assumes some moderation in tariff implementation. Still, if most of the April 9 tariffs are enacted as planned, the effective U.S. tariff rate could surge by 20 percentage points.



"Our forecast had already assumed forceful retaliation by foreign governments, but we had not accounted for the effects of a consumer-led response," the team said, pointing to anticipated foreign consumer boycotts and reduced tourism flows to the United States, which alone could shave 0.1 to 0.2 percentage points off 2025 GDP.



Additionally, uncertainty around trade policy is compounding the issue. "Much of the very recent rise in uncertainty was related to President Trump's ‘reciprocal' tariff plan," Goldman said, adding that despite having more details, ambiguity around international responses and the scope of future tariff increases remains high.



<h3 class="wp-block-heading">Investment And Hiring Set To Stall</h3>



Business investment, a key driver of economic growth, is now expected to flatline over the next 12 months. According to Goldman Sachs' models, there is now a 45% probability that capital expenditures will decline during that period.



The economic team also sees looming pressure on federal, state and local government spending, especially in sectors like healthcare, education and infrastructure, which is amplifying the drag on the economy.



"We now expect roughly flat business investment over the next year," Goldman said, noting that tightening financial conditions and tariff-driven uncertainty discourage companies from expanding or hiring.



Consumer spending, which makes up about 70% of the U.S. economy, is also under threat. As labor supply growth slows and job creation weakens, Goldman expects a meaningful deceleration in household consumption.



"Tariffs reduce real disposable income," the bank said, implying that higher prices for imported goods will weigh on consumer purchasing power, especially among lower-income households.



The combination of weaker hiring, stagnant investment and declining consumer confidence creates a toxic mix for growth, one that might push the economy into contraction territory if shocks continue to build.



<h3 class="wp-block-heading">Recession Risk Spurs Hedging Shift</h3>



The rise in recession probability is not just a warning signal — it&#8217;s a tactical call for investors to rethink their hedging strategies. 



Goldman Sachs analyst Karen Reichgott Fishman said the combination of diminishing U.S. economic exceptionalism and increased risk of recession supports a strategic move into safe-haven currencies.



"The loss of U.S. exceptionalism and higher recession risk argue for a shift in hedging strategy," Fishman said. "We think U.S. investors should be better off adding JPY, CHF, and even EUR exposure as protection."



Since last week&#8217;s tariff announcement, the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>) has risen by 3%, while the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 13%.



Read now: 



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/04/44662164/us-stock-futures-slump-following-massive-tariff-induced-selloff-experts-warn-of-a-brewing-great-depression-like-pattern">US Stock Futures Drop Following Massive Tariff-Induced Selloff: Experts Warn Of A Brewing &#8216;Great Depression-Like&#8217; Pattern</a></li>
</ul>



Photo: Shutterstock

US Recession 'Countdown' Has Begun As Trump Tariffs Push Odds To 45%, Goldman Sachs Warns

Jamie Dimon, CEO of&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), cautioned that the tariffs imposed by President Donald Trump could trigger inflation and decelerate the U.S. economy.



What Happened: In his yearly letter to shareholders, Dimon discussed the implications of Trump&#8217;s tariff policy announced on April 2. He warned of potential short-term effects, including inflationary impacts on both imported and domestic goods, reported <a href="https://www.cnbc.com/2025/04/07/jamie-dimon-trump-tariffs-inflation-economy.html?">CNBC</a>.&nbsp;&#8220;We are likely to see&nbsp;inflationary outcomes, not only on&nbsp;imported goods but on domestic&nbsp;prices, as input costs rise&nbsp;and demand increases on domestic&nbsp;products,&#8221; Dimon said.



Dimon expressed worries about the tariffs&#8217; potential to hinder economic growth.&nbsp;&#8220;Whether or not the menu&nbsp;of tariffs causes a recession&nbsp;remains in question, but it&nbsp;will slow down growth,&#8221; he&nbsp;stated.



Dimon also highlighted the uncertainties stemming from Trump&#8217;s tariff policy, such as its effects on global capital flows, the strength of the dollar, corporate earnings, and potential reactions from trading partners. He called for a swift resolution, stating,&nbsp;&#8220;The quicker this issue is&nbsp;resolved, the better because some&nbsp;of the negative effects increase&nbsp;cumulatively over time and would&nbsp;be hard to reverse.&#8221;



Following the negotiations, Dimon hopes that the tariffs will ultimately yield long-term benefits for the U.S.



The JPMorgan CEO warned that inflation could be more persistent than anticipated, leading to high interest rates even as the economy slows.



Despite recent declines, Dimon noted that stock and debt prices are still elevated. &nbsp;"Markets still seem to be pricing assets with the assumption that we will continue to have a fairly soft landing. I am not so sure," he wrote to the shareholders.



SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44662021/is-tesla-cybertruck-the-biggest-automotive-blunder-in-decades-after-fords-edsel-its-a-huge-swing-and-a-huge-miss" target="_blank" rel="noreferrer noopener">Is Tesla Cybertruck The Biggest Automotive Blunder In Decades After Ford&#8217;s Edsel? &#8216;It&#8217;s A Huge Swing And A Huge Miss,&#8217; Says Expert</a>



Why It Matters: Dimon is the first major Wall Street bank CEO to publicly comment on Trump&#8217;s extensive tariff policy amid a global market downturn. Notably, the JPMorgan CEO&#8217;s remarks represent a gradual departure from his January position, where he suggested that people should "get over" tariff concerns and that they are beneficial for national security. 



By March, in a conversation with Adobe&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) CEO Shantanu Narayen at Adobe's annual summit, Dimon characterized the economy as being in a "soft landing" phase, &#8220;but there&#8217;s a lot of turbulence out there.&#8221; He underscored the <a href="https://www.benzinga.com/markets/25/03/44411483/jamie-dimon-says-theres-a-lot-of-turbulence-out-there-amid-trump-tariffs-inflation-woes-and-geopolitical-risks">uncertainty surrounding</a> President Donald Trump‘s proposed tax plan and the potential ramifications of tariffs on the global economy.



While Dimon did not point to a recession, JPMorgan Chase analyst Maia G. Crook raised the probability of a U.S. recession to 60%, up from 40% last month, calling it the &#8220;largest U.S. tax hike in nearly 60 years.&#8221;



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depre" target="_blank" rel="noreferrer noopener">S&amp;P 500, Dow Jones On Course To Mimic Rare Consecutive Losses Not Seen Since The Great Depression: What&#8217;s Driving the Fear?</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ADBE

Jamie Dimon, Once A Tariff Supporter, Warns Trump's New Policy Could Stall US Growth, Stoke Inflation: 'The Quicker The Issue Is Resolved, The Better'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) just bit into <a href="https://www.benzinga.com/topic/death-cross">a Death Cross</a>, and Wall Street is reaching for the antacids. 



The Cupertino, California-based company&#8217;s stock has plunged 22.75% year to date. At $183.59, it is well below every major moving average and the technical picture looks grim.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0407"><img loading="lazy" decoding="async" width="629" height="491" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07083607/Screenshot-2025-04-07-at-6.05.56-PM.png" alt="" class="wp-image-859850" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07083607/Screenshot-2025-04-07-at-6.05.56-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07083607/Screenshot-2025-04-07-at-6.05.56-PM-300x234.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0407">Chart created using Benzinga Pro</a>



If charts could scream, this one would be yelling "bearish."



We Saw It Coming: <a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44629335/apple-stock-slammed-by-trump-tariffs-is-a-death-cross-next">Apple Stock Slammed By Trump Tariffs: Is A Death Cross Next?</a>



<h2 class="wp-block-heading">Apple Stock: A Technical Meltdown In The Making</h2>



The Apple stock chart reads like a cautionary tale. The stock is now firmly under its five, 20 and 50-day exponential moving averages, a pattern that signals strong selling pressure. Its simple moving averages aren't faring any better: the eight-day, 20-day, 50-day and even the 200-day averages all tower above Apple stock, painting a consistent — and bleak — technical narrative.



The Moving Average Convergence Divergence (MACD) sits at a deeply negative 8.16, flashing a red light for future downside. And if that weren't enough, the Relative Strength Index (RSI) is a paltry 23.45 &#8211; officially in oversold territory. 



Translation? The bulls are on vacation, and the bears are moving in.



<h2 class="wp-block-heading">Tariffs Take A Bite Out Of Apple</h2>



The technical weakness coincides with fundamental fears: tariffs. Apple stock tumbled 6.3% after Wedbush Securities analyst Daniel Ives, a longtime Apple bull, slashed his price target from $325 to $250,<a href="https://www.msn.com/en-us/money/savingandinvesting/apple-stock-bull-slashes-price-target-over-trump-s-tariff-armageddon/ar-AA1CrD2i?ocid=finance-verthp-feeds"> reported</a> IBD. He warned that President Donald Trump&#8216;s so-called &#8220;tariff Armageddon&#8221; could wreak havoc on Apple's cost structure and consumer demand.



Apple is uniquely exposed with around 90% of iPhones still manufactured in China, and hefty portions of Mac and iPad production also tied to the region. Even though the company has tried to diversify its supply chain, it's still knee-deep in Chinese assembly lines—exactly where Trump's tariffs hit hardest.



<h2 class="wp-block-heading">The Cross Isn't Golden</h2>



Apple&#8217;s current trajectory flashes every warning sign in the book — from moving average breakdowns to a gut-punched RSI. While long-term investors may still see value, the short-term chart is a bearish playground. And unless the tariff clouds clear, this tech titan might be headed for more turbulence.



So, is it time to panic? Not necessarily. 



But when Apple makes a Death Cross, you might want to keep your finger near the power button.



Read Next: 



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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/04/44649868/magnificent-7s-3-trillion-club-is-vacant-as-apple-stock-stumbles">Magnificent 7&#8217;s $3 Trillion Club Is Vacant As Apple Stock Stumbles</a></li>
</ul>



Image: Shutterstock

Technicals

Tech

Trading Ideas

AAPL

Apple Stock's Death Cross: Is The iPhone Maker Heading For A Rotten Summer?

U.S. stock futures fell sharply on Monday after two days of decline last week. Futures of major benchmark indices were over 3% lower in premarket trading.



The selloff that started on Thursday intensified on Friday as China introduced its retaliatory measures to U.S. tariffs. As of Friday, the S&amp;P 500 was nearing the bear market zone as it closed 17.46% lower than its previous record high of 6,147.43 points.



Dow was 14.99% down from its 52-week high of 45,073.63 points, whereas the Nasdaq 100 was already in the bear market territory, 21.71% lower from its high of 22,222.61 points.



The hopes of a Fed &#8216;put&#8217; remained on standby as Jerome Powell said Friday that "It is too soon to say what will be the appropriate path for monetary policy.&#8221;



The 10-year Treasury bond yielded 3.93% and the two-year bond was at 3.51%. However, the CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections rose, showing markets pricing a 48.4% likelihood of the Federal Reserve easing the current interest rates in its May meeting. 



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-3.61%</td></tr><tr><td>S&amp;P 500</td><td>-3.74%</td></tr><tr><td>Nasdaq 100</td><td>-4.26%</td></tr><tr><td>Russell 2000</td><td>-4.82%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, declined in premarket on Monday. The SPY was down 4.01% to $485.03, while the QQQ declined 4.26% to $404.65, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



U.S. stocks closed Friday lower, with all sectors in the red. Financials, energy, and information technology led the S&amp;P 500 sector declines.



Friday&#8217;s economic data showed strong March nonfarm payroll growth grew 228,000, exceeding expectations, though the unemployment rate unexpectedly rose to 4.2%, and average hourly earnings increased as predicted by 0.3% monthly, and 3.8% year-over-year.



The S&amp;P 500 Index recorded its worst weekly decline since March 2020. With the S&amp;P 500 plunging 10.5% over Thursday and Friday, this marks only the fourth time such a sharp two-day drawdown has occurred in modern market history—joining October 1987, September 2008, March 2020, and now April 2025.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>-5.82%</td><td>15,587.79</td></tr><tr><td>S&amp;P 500</td><td>-5.97%</td><td>5,074.08</td></tr><tr><td>Dow Jones</td><td>-5.50%</td><td>38,314.86</td></tr><tr><td>Russell 2000</td><td>-4.37%</td><td>1,827.03</td></tr></tbody></table></figure>



Insights From Analysts:



The S&amp;P 500 and Dow are showing a worrying pattern of steep, consecutive drops, reminiscent of the Great Depression, according to the experts.



Carson Research&#8217;s chief market strategist, Ryan Detrick, noted on X that a 4% drop in the S&amp;P 500 on Monday would be its third straight over 4% loss, a pattern seen only three times before, all during the Great Depression.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Should the S&amp;P 500 close down 4% tomorrow, that would be three days in a row it was down at least 4%. That has only happened three times in history and all were during the Great Depression. <a href="https://t.co/jEIsgoMl49">pic.twitter.com/jEIsgoMl49</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1909077635960832211?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



White Oak Consultancy&#8217;s Jason Goepfert pointed out that Dow futures suggest a third consecutive loss exceeding 3%, a pattern seen only four times during the Great Depression.



The Sentimentrader graph shared by hi, shows varied Dow performance in the weeks and months following these rare historical sell-off signals, highlighting market uncertainty even after such events.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Futures indicate another loss in the Dow Industrials greater than -3%. Futures are finicky, but that&#39;d be its 3rd consecutive loss greater than -3%. Since 1896 &#8211; 129 years of history &#8211; this only occurred during the Great Depression. <a href="https://t.co/egAOcqLBC0">pic.twitter.com/egAOcqLBC0</a>&mdash; Jason Goepfert (@jasongoepfert) <a href="https://twitter.com/jasongoepfert/status/1909042602210423192?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, according to Craig Shapiro from 3-Circle Investments by The Bear Traps Report, the absence of this perceived "Trump put" or "Fed put" could trigger a swift and significant market downturn.



Shapiro argues the market sought assurance from Trump or the Fed, but recent events show both safety nets are further away than expected. He predicts Fed intervention only if the Treasury market becomes unstable.



Shapiro warned, "All this being said, the lack of the ‘put' for now means I think we are going to go significantly lower very quickly until UsT market dysfunction starts and the Fed says ‘no mas' because this will eventually bleed into economic activity and exacerbate the slowdown."



Despite growing skepticism, Stephanie Link, the chief investment strategist and the head of investment solutions at Hightower Advisors, said, &#8220;Buy.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sentiment is everything. I think I've blocked more angry folks than I've ever have done in the past few days. And I'm just trying to help. Thanks all. Buy.&mdash; Stephanie Link (@Stephanie_Link) <a href="https://twitter.com/Stephanie_Link/status/1908702854203703670?ref_src=twsrc%5Etfw">April 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on this week:



<ul>
<li>On Monday, Fed Governor Adriana Kugler will speak at 10:30 a.m. ET.</li>
</ul>



<ul>
<li>February&#8217;s consumer credit data will be released by 3:00 p.m. ET.</li>
</ul>



<ul>
<li>On Tuesday, the NFIB optimism index for March will be out by 6:00 a.m., and San Francisco Fed President Mary Daly will speak at 8:00 a.m. ET.</li>
</ul>



<ul>
<li>On Wednesday, February&#8217;s wholesale inventories data will be released by 10:00 a.m., and Richmond Fed President Tom Barkin will speak at 11:00 a.m. ET.</li>
</ul>



<ul>
<li>Minutes of Fed&#8217;s March FOMC meeting will be out by 2:00 p.m. ET.</li>
</ul>



<ul>
<li>On Thursday, the initial jobless claims data for the week ended April 5 and the headline and core consumer price index data for March will be announced by 8:30 a.m. ET.</li>
</ul>



<ul>
<li>Fed Governor Michelle Bowman will testify to the Senate, while Kansas City Fed President Jeff Schmid will speak at 10:00 a.m. ET.</li>
</ul>



<ul>
<li>Also, Philadelphia Fed President Patrick Harker and Chicago Fed President Austan Goolsbee will both speak at noon.</li>
</ul>



<ul>
<li>March&#8217;s monthly U.S. federal budget data will be out by 2:00 p.m. ET.</li>
</ul>



<ul>
<li>On Friday, the headline and core producer price index data for March will be released by 8:30 a.m. ET.</li>
</ul>



<ul>
<li>April&#8217;s preliminary consumer sentiment data will be announced, while St. Louis Fed President Alberto Musalem speaks at 10:00 a.m. ET.</li>
</ul>



<ul>
<li>New York Fed President John Williams will speak at 11:00 a.m. ET.</li>
</ul>



Stocks In Focus:



<ul>
<li>Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) dropped 4.54% in premarket on Friday ahead of its earnings call after the closing bell. Analysts expect a quarterly earnings of 28 cents per share on revenue of $1.54 million.</li>
</ul>



<ul>
<li>Dave &amp; Buster&#8217;s Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) declined 3.36% as Wall Street expects it to report earnings of 71 cents per share on revenue of 550.37 million after the closing bell.</li>
</ul>



<ul>
<li>Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) tumbled 14.49% ahead of its earnings call after the closing bell. Analysts expect a quarterly earnings of $1.78 per share on revenue of $898.53 million.</li>
</ul>



<ul>
<li>Chanson International Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHSN#NASDAQ">CHSN</a>) surged 140.07% as it reported a year-over-year increase in FY24 financial results.</li>
</ul>



<ul>
<li>China Pharma Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPHI#NYSE">CPHI</a>) fell 13.91% after reporting a 1-for-10 reverse stock split.</li>
</ul>



<ul>
<li>CECO Environmental Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CECO#NASDAQ">CECO</a>) slumped 54.55% as May River Capital acquired its Global Pump Solutions, including the Dean, Fybroc, and Sethco pump brands, now operating as Tusk Industrial.</li>
</ul>



<ul>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) lost 6.74% after its first quarter 2025 trading update cited higher upstream taxes and increased working capital, offsetting strong gas and oil trading.</li>
</ul>



<ul>
<li>Heavyweights, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) slid 5.13%, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) fell 4.34%, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) was 4.26% lower, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) dropped 4.40%, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) plummeted 7.65%.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 3.79% to hover around $59.57 per barrel.



Gold Spot US Dollar declined 0.25% to hover around $3,029.67 per ounce. Its fresh record high stood at $3,168.04 per ounce. The U.S. Dollar Index spot was higher by 0.35% at the 102.660 level.



Asian markets fell sharply on Monday. India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, China&#8217;s CSI 300, Hong Kong's Hang Seng, and South Korea's Kospi index fell. European markets also crashed in early trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/04/44661029/trump-and-fed-stand-firm-lack-of-a-put-could-drive-the-market-lower-very-quickly-warns-expert">Lack Of &#8216;Trump Put&#8217; Could Drive Market Lower &#8216;Very Quickly,&#8217; Says Expert, As Fed Chair Jerome Powell Stands Ground On Rate Cuts</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Earnings

Government

Macro Notification

Market Summary

Guidance

Futures

Treasuries

Pre-Market Outlook

AMZN

CECO

CHSN

CPHI

LEVI

MSFT

NVDA

PLAY

SHEL

TSLA

US Stock Futures Drop Following Massive Tariff-Induced Selloff: Experts Warn Of A Brewing 'Great Depression-Like' Pattern

Magnificent 7 stocks, which are the heavyweights in the benchmark indices of the U.S. stock market, declined in premarket on Monday, extending the fall from the tariff-induced selloff last week.



What Happened: Shares of Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Mark Zuckerberg&#8216;s Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) dropped the most by 5.19%% and 2.47%, respectively, as of the publication of this article.



The other components of the Magnificent 7 were all down over 1%. Tesla and Jensen Huang&#8216;s Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have had the steepest fall on a year-to-date basis in 2025.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Stocks</td><td>Monday Premarket</td><td>YTD Performance</td></tr><tr><td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td><td>-3.34%</td><td>-31.81%</td></tr><tr><td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td><td>-2.96%</td><td>-22.75%</td></tr><tr><td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td><td>-1.43%</td><td>-14.03%</td></tr><tr><td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td><td>-2.51%</td><td>-22.35%</td></tr><tr><td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</td><td>-2.05%</td><td>-22.50%</td></tr><tr><td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td><td>-2.47%</td><td>-15.77%</td></tr><tr><td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td><td>-5.19%</td><td>-36.87%</td></tr></tbody></table></figure>



The market has been witnessing a staggering crash since Thursday, after President Donald Trump unveiled tariffs on U.S. trading partners on Wednesday after the close. Top analysts and economists have issued recession warnings following the introduction of these policy changes.



Goldman Sachs increased its recession probability forecast to <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44645681/jpmorgan-raises-recession-risk-to-60-as-largest-us-tax-hike-in-60-years-hits-global-economy?">45% from 35%</a> on Sunday, following a prior hike a month ago, attributing the increased risk to tighter financial conditions and higher policy uncertainty, a view shared by JPMorgan, which raised its global <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44645681/jpmorgan-raises-recession-risk-to-60-as-largest-us-tax-hike-in-60-years-hits-global-economy?_gl=1&#x2A;1mnei8t&#x2A;_gcl_au&#x2A;NzQyMjgxNjUuMTczNzYwNzI4NQ..&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;MTc0NDAyMzE1Ny4yNDYuMS4xNzQ0MDIzMjMyLjAuMC4w">recession odds to 60%</a> last week. However, Jefferies analysts suggest these factors, including Trump&#8217;s tariffs, could offer tech companies a &#8220;Free Hall Pass&#8221; to revise their financial guidance



As reported <a href="https://markets.businessinsider.com/news/stocks/tariffs-free-hall-pass-to-reset-big-tech-profit-guidance-2025-4">by</a> Business Insider, the firm&#8217;s lead analyst, Brent Thill, suggests companies can leverage this crisis to set lower, more attainable estimates, potentially boosting investor sentiment and stock performance. 



See Also: <a href="https://www.benzinga.com/25/04/44662164/us-stock-futures-slump-following-massive-tariff-induced-selloff-experts-warn-of-a-brewing-great-depression-like-pattern">US Stock Futures Slump Following Massive Tariff-Induced Selloff: Experts Warn Of A Brewing &#8216;Great Depression-Like&#8217; Pattern</a>



Why It Matters: The movement in these seven stocks has a huge impact on the overall market as they comprise nearly 32% of the S&amp;P 500&#8217;s weight.



As of Friday, the S&amp;P 500 was nearing the bear market zone as it closed 17.46% lower than its previous record high of 6,147.43 points.



Dow was 14.99% down from its 52-week high of 45,073.63 points, whereas the Nasdaq 100 was already in the bear market territory, 21.71% lower from its high of 22,222.61 points.



The hopes of a <a href="https://www.benzinga.com/25/04/44661029/trump-and-fed-stand-firm-lack-of-a-put-could-drive-the-market-lower-very-quickly-warns-expert">Fed &#8216;put&#8217; remained on standby</a> as Jerome Powell said Friday that "It is too soon to say what will be the appropriate path for monetary policy.&#8221;



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, declined in premarket on Monday. The SPY was down 2.10% to $494.66, while the QQQ declined 2.24% to $413.21, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44662730/bill-ackman-slams-commerce-secretary-lutnick-for-ignoring-stock-market-crash-he-and-cantor-are-long-bonds">Bill Ackman Slams Commerce Secretary Howard Lutnick For Ignoring Stock Market Crash: &#8216;He And Cantor Are Long Bonds&#8217;</a></li>
</ul>



Image via Shutterstock

General

GOOG

Tesla, Nvidia, Apple And Other 'Magnificent 7' Peers Tank In Monday Premarket: What's Going On?

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is the latest investment bank to predict a recession for the U.S. economy over the next 12 months, with the odds being raised to 45%, from its previous prediction of 35%. Amidst <a href="https://www.benzinga.com/25/04/44662164/us-stock-futures-slump-following-massive-tariff-induced-selloff-experts-warn-of-a-brewing-great-depression-like-pattern">all this chaos and uncertainty</a>, however, there is a silver lining for the tech giants and their executives.



What Happened: On Sunday night, Goldman Sachs published a note raising its recession probability forecast from 35% to 45%, citing the sharp tightening of financial conditions and a spike in policy uncertainty. Just a month ago, it raised the probability from 20% to 35%, stating that economic fundamentals weren&#8217;t as robust as in the prior years.



See More: <a href="https://www.benzinga.com/25/04/44662249/end-of-cheap-clothing-era-tariffs-to-hit-apparel-industry-hard">Tariffs Threaten To End Era Of Cheap Clothing — Apparel Industry Faces Major Price Shock Under Trump Policy</a>



The bank now follows JPMorgan Cash &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), which <a href="http://benzinga.com/economics/macro-economic-events/25/04/44645681/jpmorgan-raises-recession-risk-to-60-as-largest-us-tax-hike-in-60-years-hits-global-economy">made a similar prediction last week</a>, hiking the odds of a global recession to 60%.



While none of this sounds good, Jefferies Financial Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) analysts believe that this, along with the Donald Trump administration&#8217;s tariffs, can be a &#8216;Free Hall Pass&#8217; for tech companies to revamp their financial guidance.



According to the firm&#8217;s lead analyst Brent Thill, companies can use this crisis to aim for &#8216;lower estimates that are more achievable and can help boost investor sentiments and stock performance,&#8217; as <a href="https://markets.businessinsider.com/news/stocks/tariffs-free-hall-pass-to-reset-big-tech-profit-guidance-2025-4">reported</a> by Business Insider. 



The firm&#8217;s analysts then cut their Price Targets for Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), among 29 leading tech stocks.



Why It Matters: The analysts noted that besides the obvious first and second order impacts of the tariffs, both Meta and Amazon generate significant revenue from Chinese advertisers trying to reach global audiences, which is now under pressure.



However, analysts have asked the tech giants to use this as an opportunity to reset their guidance to move conservative figures, something that better reflects new market realities.



Read More:



<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/04/44661978/bill-ackman-blames-market-collapse-on-tariff-timing-says-trump-advisor-should-be-fired-now-predicts-a-lot-more-than-5-dip">Bill Ackman Blames Market Collapse On Tariff Timing, Says Trump Advisor &#8216;Should Be Fired Now:&#8217; Predicts &#8216;A Lot More Than 5%&#8217; Dip</a></li>
</ul>



Photo courtesy: Shutterstock

Large Cap

Social Media

Goldman Sachs Raises Risk Of Recession to 45%: Jefferies Calls Tariffs a 'Free Hall Pass' For Tech Giants To Reset Their Goals

A report&nbsp;indicated that new tariff policies could lead to increased costs for American households, while President Donald Trump continues to advocate tariffs as a solution to U.S. trade deficits



What Happened: A Yale budget lab report suggests that U.S. households will face increased costs due to these tariffs. Families are projected to face an average additional cost of $3,800 this year as a result of the overall 2025 tariffs, which are expected to increase price levels by 2.3% in the short term. 



Meanwhile, the April 2 &#8216;Liberation Day&#8217; tariffs alone are likely to increase the average cost of $2,100 per household in 2025. The report also stated that households at the lowest end of the income distribution face annual losses of $1,700.



Both the April 2 tariffs and the combined 2025 tariffs impact the clothing and textile sector, causing apparel prices to increase by 17% under the full set of tariffs, stated the Yale report.



However, Trump took to his Truth Social and pushed for tariffs as a means to address trade deficits with nations such as China and the European Union. He argued that the tariffs already in place have generated substantial revenue—tens of billions of dollars—for the country, and criticized the Biden administration for&nbsp;trade surpluses favoring foreign nations. He also promised a swift reversal of this trend.



<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="612" height="288" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07055131/image-53.png" alt="" class="wp-image-859562" style="width:508px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07055131/image-53.png 612w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07055131/image-53-300x141.png 300w" sizes="(max-width: 612px) 100vw, 612px" /></figure>



SEE ALSO:&nbsp;<a href="https://benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depre" target="_blank" rel="noreferrer noopener">S&amp;P 500, Dow Jones On Course To Mimic Rare Consecutive Losses Not Seen Since The Great Depression: What&#8217;s Driving the Fear?</a>



Why It Matters: The proposed tariffs have sparked concerns about potential inflation. Federal Reserve Chair Jerome Powell hinted at this possibility in a&nbsp;<a href="https://www.benzinga.com/government/regulations/25/04/44648681/powell-cites-tariff-driven-inflation-risks-shrugs-off-trumps-call-for-perfect-time-to-cut-rates">speech</a>&nbsp;earlier this month. He indicated that higher tariffs could complicate the path toward price stability, raising the risk of both slower growth and rising inflation.



Furthermore, billionaire entrepreneur Mark Cuban has warned that even American-made goods will see price hikes due to tariffs. In a <a href="https://www.benzinga.com/news/25/04/44656363/stock-up-now-says-mark-cuban-he-warns-that-even-american-made-goods-will-see-price-hikes-soon">Bluesky post</a>, Cuban urged Americans to stock up on essentials before prices rise further. He suggested that even if goods are made in the U.S., retailers will increase the price and blame it on tariffs.



Global markets have been on a rollercoaster ride due to President Donald <a href="https://in.benzinga.com/media/25/04/44657800/trumps-tariffs-stir-global-markets-wall-street-loses-2-trillion-and-more-this-week-in-economics" target="_blank" rel="noreferrer noopener">Trump&#8217;</a><a href="https://in.benzinga.com/media/25/04/44657800/trumps-tariffs-stir-global-markets-wall-street-loses-2-trillion-and-more-this-week-in-economics" target="_blank" rel="noreferrer noopener">s new trade tariffs</a>. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which mirror the S&amp;P 500 and Nasdaq-100 indexes, respectively, slipped in premarket trading Monday. SPY fell 4.01% to $485.03, while QQQ dropped 4.26% to $404.65, according to <a href="http://pro.benzinga.com">Benzinga Pro data.</a>



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/04/44661347/xrp-futures-traders-bet-on-cryptos-price-increase-despite-a-20-fallheres-what-analysts-predict" target="_blank" rel="noreferrer noopener">XRP Futures Traders Bullish On Coin&#8217;s Price Increase Despite A 20% Fall — Analyst Terms Decline As &#8216;Small Speed Bump&#8217; &#8211; Benzinga</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Tariffs Could Cost American Families $3,800 More Per Year — But President Says They're 'Bringing Tens Of Billions Of Dollars Into The US'

On Friday, April 4th, U.S. markets closed sharply lower, marking Wall Street&#8217;s second consecutive day of steep losses. The Nasdaq officially entered a bear market, while the Dow slipped into correction territory amid intensifying global trade tensions.



President Trump&#8217;s sweeping tariffs sparked fears of a global recession, erasing trillions in market value. Investor panic surged as volatility spiked, and world leaders scrambled to coordinate responses to the escalating trade conflict.



In economic data, March U.S. nonfarm payrolls jumped by 228,000, beating forecasts and the recent average. February&#8217;s figure was revised down to 117,000. Unemployment rose slightly to 4.2%, against expectations of no change. Average hourly earnings grew 0.3% month-over-month and 3.8% year-over-year, just below the 3.9% forecast.



Most S&amp;P 500 sectors fell Friday, led by financials, energy, and tech, amid heightened volatility, while consumer staples rose as investors turned to defensive assets.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/04/44659686/stock-futures-tank-dow-sheds-over-1000-points-as-white-house-remains-firm-on-tariffs-trump-says-sometimes-you-have-to-take-medicine" rel="noreferrer noopener">Stock Futures Tank, Dow Sheds Over 1000 Points As White House Remains Firm On Tariffs: Trump Says, &#8216;Sometimes You Have To Take Medicine</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



The Dow Jones Industrial Average tumbled 5.5% to 38,314.86, while the S&amp;P 500 dropped 5.97% to 5,074.08. The Nasdaq Composite also fell sharply, losing 5.82% to close at 15,587.79.



Asia Markets Today



<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 closed the session lower by 7.68% at 31,187.50, hitting a 1.5-year low, as fears of a global recession from Trump&#8217;s new tariffs triggered a broad selloff, especially in banks and chip-related stocks.</li>



<li>Australia&#8217;s S&amp;P/ASX 200 was down 4.23% and closed at 7,343.30, led by losses in the Energy, IT, and Consumer Discretionary sectors.</li>



<li>India&#8217;s Nifty 50 was down 2.84% to 22,252.90, and Nifty 500 declined 3.07% to 20,164.35.</li>



<li>China&#8217;s Shanghai Composite fell 7.34% to 3,096.58, and Shanghai Shenzhen CSI 300 declined 7.05% to 3,589.44.</li>



<li>Hong Kong&#8217;s Hang Seng Index plummeted 13.2% to 19,828.30, marking its worst single-day drop since 1997. Escalating U.S.-China tariffs intensified trade war fears, sparking a broad selloff in tech and growth-linked sectors and roiling global markets.</li>
</ul>



Eurozone at 05:45 AM ET



<ul>
<li>The European STOXX 50 was down 5.63%.</li>



<li>Germany&#8217;s DAX declined 5.84%.</li>



<li>France&#8217;s CAC 40 fell 5.76%.</li>



<li>U.K.&#8217;s FTSE 100 index traded lower by 4.74%.</li>



<li>European markets tumbled as Trump&#8217;s unwavering tariff stance and rising U.S.-China tensions deepened fears of a global recession. Already grappling with weak industrial data, Europe faced added pressure from looming EU retaliatory tariffs and sharp losses in banking and energy stocks.</li>
</ul>



Commodities at 05:45 AM ET



<ul>
<li>Crude Oil WTI was trading lower by 3.89% at $59.58/bbl, and Brent was down 3.67% at $63.16/bbl.</li>



<li>Oil prices fell as U.S.-China trade tensions stoked recession fears, weakening demand outlook. Additionally, Saudi price cuts and OPEC+ plans to boost output intensified pressure on crude benchmarks.</li>



<li>Natural Gas slid 3.08% to $3.719.</li>



<li>Gold was trading higher by 0.21% at $3,041.50, Silver was up 3.22% to $30.170, and Copper fell 1.28% to $4.3420.</li>



<li>Gold prices fell to a three-week low as investors liquidated positions to cover losses from a broader market selloff, which was driven by Trump&#8217;s sweeping tariffs and rising global recession fears despite gold&#8217;s safe-haven status.</li>
</ul>



U.S. Futures at 05:45 AM ET



Dow futures were down 3.05%, S&amp;P 500 futures declined 3.13%, and Nasdaq 100 futures slid 3.46%.



Forex at 05:45 AM ET



The U.S. Dollar Index declined 0.11% to 102.88, USD/JPY was down 0.59% to 146.03, and USD/AUD gained 0.54% to 1.6626.



Photo by Skorzewiak via Shutterstock

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Global Markets See Worst Drop Since 1997 Mimicking Black Monday Like Crash, Crude Oil Tumbles

Last week, Donald Trump announced <a href="https://in.benzinga.com/25/04/44641631/trumps-reciprocal-tariffs-threaten-to-derail-big-techs-billion-dollar-ai-infrastructure-plans-analysts-warn-stargate-was-already-unlikely-to-get-to-that-scale">"reciprocal" tariffs that have</a> caused significant turbulence in global markets, with the stock prices of major U.S. tech companies, known as the &#8220;Magnificent 7,&#8221; plummeting and wiping out nearly $1.8 trillion in market value.



What Happened: On Sunday, Dan Ives, an analyst from Wedbush Securities, warned that Trump&#8217;s tariffs could severely hinder the U.S. tech sector's growth.



Ives underscored the long-term impact of the trade policies, stating, &#8220;Investors know math and the sad reality&#8221; — suggesting the U.S. tech industry could be set back by a decade if these tariffs remain in place.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If these tariffs (in current form/rates) hold&#8230;it would set the US tech world back a decade in our opinion while China is the clear winner&#8230;the US tech supply chain turned upside down overnight and the cost structure will be untenable. Investors know math and the sad reality.&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1908981014141038840?ref_src=twsrc%5Etfw">April 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Trump&#8217;s reciprocal tariff strategy, which includes a 10% universal tariff on all imports and additional duties targeting countries like China, India, and the EU, sparked a massive sell-off in the stock market.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/25/04/44640656/apple-making-iphones-in-america-a-fantasy-that-sounds-great-behind-the-microphones-says-top-analyst-dan-ives" target="_blank" rel="noreferrer noopener">Apple Making iPhones In America A Fantasy That Sounds Great ‘Behind The Microphones,' Says Top Analyst Dan Ives</a>



The S&amp;P 500, which represents some of the largest companies in the U.S., <a href="https://in.benzinga.com/markets/equities/25/04/44655719/trump-tariffs-erode-5-trillion-in-market-cap-in-2-days-as-china-retaliates-jerome-powell-warns-of-inflation">lost $5 trillion in market value</a>, with key companies in the tech sector suffering heavy losses.



Their collective market cap erosion of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Nvidia Corp.(NASAQ: NVDA), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) amounted to a staggering $1.8 trillion, with Apple losing $534 billion alone.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><thead><tr><th>Company</th><th>Stock Price On Wednesday ($)</th><th>Shares Outstanding (Billion)</th><th>Stock Price On Friday ($)</th><th>Market Cap on Wednesday (Billion $)</th><th>Market Cap on Friday (Billion $)</th><th>Erosion (Billion $)</th></tr></thead><tbody><tr><td>Apple</td><td>223.89</td><td>15.04</td><td>188.38</td><td>3367.31</td><td>2833.24</td><td>534.07</td></tr><tr><td>Microsoft</td><td>382.14</td><td>7.43</td><td>359.84</td><td>2839.30</td><td>2673.61</td><td>165.69</td></tr><tr><td>Amazon</td><td>196.01</td><td>10.6</td><td>171.00</td><td>2077.71</td><td>1812.60</td><td>265.11</td></tr><tr><td>Alphabet A</td><td>157.04</td><td>5.83</td><td>145.60</td><td>915.54</td><td>848.85</td><td>66.70</td></tr><tr><td>Alphabet C</td><td>158.86</td><td>5.50</td><td>147.74</td><td>873.73</td><td>812.57</td><td>61.16</td></tr><tr><td>Meta</td><td>583.93</td><td>2.19</td><td>504.73</td><td>1278.81</td><td>1105.36</td><td>173.45</td></tr><tr><td>Nvidia</td><td>110.42</td><td>24.4</td><td>94.31</td><td>2694.25</td><td>2301.16</td><td>393.08</td></tr><tr><td>Tesla</td><td>282.76</td><td>3.22</td><td>239.43</td><td>910.49</td><td>770.96</td><td>139.52</td></tr></tbody></table></figure>



Why It Matters: The tariffs have far-reaching consequences, especially for the U.S. tech sector, which relies heavily on global supply chains. Apple, for example, could see the price of an iPhone 16 Pro Max soar <a href="https://www.benzinga.com/tech/25/04/44655937/trump-tariffs-could-spike-iphone-prices-to-almost-2300-if-apple-decides-to-pass-on-the-costs-to-buyers">from $1,599 to around $2,300</a>, according to industry analysts.



Furthermore, the tariffs could push tech companies to reconsider their operations and manufacturing locations. While the U.S. government is betting on reshoring jobs, the increasing cost of labor and the slow pace of manufacturing build-outs could mean limited job growth, particularly with increasing automation.



Ives previously pointed out that <a href="https://in.benzinga.com/25/04/44647999/trumps-tariff-war-could-take-us-tech-industry-back-a-decade-while-china-steam-rolls-ahead-analyst-says">tech earnings would likely decline by 15%</a>, and the price of consumer electronics could rise by up to 50%, burdening American consumers.



Despite a robust U.S. labor market <a href="https://www.benzinga.com/government/regulations/25/04/44647678/nasdaq-100-enters-bear-market-dow-in-correction-territory-as-traders-anxiously-await-powell-remarks">that added 228,000 jobs in March</a>, escalating trade tensions have cast a shadow over the positive economic momentum.



Comparisons to the infamous Smoot-Hawley Tariff Act of 1930 — which deepened the Great Depression — are fueling concerns about the broader global economic outlook.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s ‘Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

GOOGL

Trump's 'Reciprocal' Tariff Threat Wipes Out Nearly $1.8 Trillion From Magnificent 7, Dan Ives Warns It Could Set US Tech Back A Decade: 'Investors Know Math And The Sad Reality'

Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) unveiled the first models of&nbsp;its latest open-source artificial intelligence&nbsp;(AI) software, Llama 4, on Saturday.



What Happened:  The Mark Zuckerberg-led company announced that users can now experiment with two of the newly launched Llama 4 models, namely Llama 4 Scout and Llama 4 Maverick, on Meta AI via WhatsApp, Messenger, Instagram Direct, or the Meta AI website. 



Llama 4 Scout is a 17 billion active parameter model with 16 experts, while Llama 4 Maverick is a 17 billion active parameter model with 128 experts. The company stated that the new Llama 4 models are the first to feature a mixture of experts (MoE) architecture.



Despite the release, the company has not launched the most potent version of Llama 4, the Llama 4 Behemoth, which&nbsp;is still in training, as per the company blog post.



Chris Cox, Meta&#8217;s Chief Product Officer, stated last month that Llama 4 will elevate the capabilities of AI agents, allowing them to achieve more advanced levels of reasoning and action. These AI agents could be beneficial to both consumers and businesses by handling various tasks and web surfing.



Zuckerberg stated in an Instagram video,&nbsp;&#8220;Our goal is to build&nbsp;the world&#8217;s leading AI, open&nbsp;source it, and make it&nbsp;universally accessible so that everyone&nbsp;in the world benefits.&#8221;



The company also plans to host its inaugural&nbsp;LlamaCon AI conference on April&nbsp;29. As per CNBC, the company is&nbsp;also expected to announce a standalone&nbsp;app for its Meta AI&nbsp;chatbot in Q2.



SEE ALSO:&nbsp;<a href="https://benzinga.com/pressreleases/25/04/ab44654009/whistlr-network-the-real-time-unfiltered-social-media-that-flips-the-social-script-raw-instant-an" target="_blank" rel="noreferrer noopener">Whistlr Network: The Real-Time, Unfiltered Social Media, That Flips the Social Script – Raw, Instant, and Built for the Culture &#8211; Benzinga</a>



Why It Matters: Meta stated that the newest Llama 4 releases are its &#8220;most advanced models yet&#8221; and &#8220;the best in their class for multimodality.&#8221; The company also believes that the models outperform ChatGPT 4, Alphabet&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Gemma 3 and Gemini 2.0 Flash-Lite, as well as Mistral 3.1 across several parameters.



The unveiling of Llama 4 models comes at a crucial time for Meta. The company&#8217;s AI research leadership is undergoing major changes. On April 2, 2025, Joelle Pineau, the Vice President of AI research at Meta, a<a href="https://www.benzinga.com/25/04/44602810/metas-ai-chief-announces-departure-while-mark-zuckerberg-doubles-down-on-ai-investments">nnounced her departure</a> from the company in May.



Moreover, the company has recently faced controversy over its AI models as a court filing in the Kadrey v. Meta lawsuit indicated that Meta had been profiting <a href="https://www.benzinga.com/25/03/44452879/meta-profits-from-llama-ai-models-despite-denials-court-filing-reveals">from its Llama AI models</a> through revenue-sharing agreements with host businesses, despite previous denials.



Despite these challenges, Meta continues to invest in AI, with the launch of Llama 4 models being the latest step in this direction.



Meta holds a momentum rating of 57.81% and a growth rating of 74.76%, according to&nbsp;<a href="https://www.benzinga.com/quote/META" target="_blank" rel="noreferrer noopener">Benzinga's Proprietary Edge Rankings</a>. The Benzinga Growth metric evaluates a stock&#8217;s historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. For an in-depth report on more stocks and insights into growth opportunities,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign</a>&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">up for Benzinga Edge.</a>



The shares of Meta closed 5.06% lower at $504.73 on Friday. The stock plunged more than 19% over the past month.



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depre" target="_blank" rel="noreferrer noopener">S&amp;P 500, Dow Jones On Course To Mimic Rare Consecutive Losses Not Seen Since The Great Depression: What&#8217;s Driving the Fear?</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mark Zuckerberg's Meta Unveils Latest Llama 4 AI Models To Challenge OpenAI's ChatGPT 4 And Google's Gemini

The CNN Money Fear and Greed index showed further decline in the overall market sentiment, while the index remained in the &#8220;Extreme Fear&#8221; zone on Friday.



U.S. stocks settled lower on Friday, with the Dow Jones index tumbling over 2,200 points during the session.



Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares dipped over 10% on Friday, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) lost 7.4%, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) dipped 7.3% during the session.



On the economic data front, in March, nonfarm payrolls surged by 228,000, the Bureau of Labor Statistics reported Friday. The outcome is well above the three-month average of 195,000 and topped economists' forecasts of 135,000. February&#8217;s employment growth was downwardly revised to 117,000. The unemployment rate unexpectedly inched higher from 4.1% to 4.2%, defying expectations for no change. Average hourly earnings increased 0.3% from February's pace, as predicted, and rose 3.8% year-over-year, marginally lower than the 3.9% predicted.



Most sectors on the S&amp;P 500 closed on a negative note, with financial, energy, and information technology stocks recording the biggest losses on Friday. However, consumer staples stocks bucked the overall market trend, closing the session higher.



The Dow Jones closed lower by around 2,231 points to 38,314.86 on Friday. The S&amp;P 500 dipped 5.97% to 5,074.08, while the Nasdaq Composite tumbled 5.82% to 15,587.79 during Friday's session.



Investors are awaiting earnings results from Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>), Dave &amp; Buster&#8217;s Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>), and The Greenbrier Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 4.2, the index remained in the &#8220;Extreme Fear&#8221; zone on Friday, versus a prior reading of 6.0.



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44645517/wall-streets-most-accurate-analysts-give-their-take-on-3-health-care-stocks-with-over-4-dividend-yields-2">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Health Care Stocks With Over 4% Dividend Yields</a> </li>
</ul>



Photo: Shutterstock

Dow Nosedives Over 2,200 Points As Apple, Tesla, Nvidia Plummet: Investor Sentiment Dips Further, Greed Index Remains In 'Extreme Fear' Zone

U.S. stock futures tumbled Sunday evening, extending last week&#8217;s historic selloff as the White House stood firm on its sweeping new tariff policy despite mounting market pressure.



What Happened: Dow Jones Industrial Average futures fell 1,257 points, or 3.26%, to 37,273, while S&amp;P 500 futures dropped 190.50 points, or 3.73%, to 4,919.75. Nasdaq-100 futures experienced the steepest decline, plummeting 807.50 points, or 4.60%, to 16,731.50. The U.S. Dollar Index also weakened, falling 0.23% to 102.79.



Japan's Nikkei 225 plunged 2,509.53 points, or 7.43%, to 31,271.05 on Monday morning at 9:53 a.m. local time.



The weekend decline follows the market&#8217;s worst performance since March 2020. The S&amp;P 500 plunged 6% Friday, pushing its two-day losses past 10%, while the Nasdaq entered bear market territory after falling 22% from its record high.



Trump said on Sunday, &#8220;I don&#8217;t want anything to go down, but sometimes you have to take medicine to fix something,&#8221; adding that foreign governments would have to pay &#8220;a lot of money&#8221; to lift the tariffs, according to Reuters, showing little concern over $6 trillion in U.S. market losses.



Treasury Secretary Scott Bessent, speaking on the Tucker Carlson Podcast Friday, attributed the selloff to a correction in <a href="https://www.benzinga.com/25/04/44652055/its-more-a-mag-seven-problem-than-a-maga-one-treasury-secretary-says-as-wall-street-meltdowns">tech valuations rather than administration policy</a>, calling it &#8220;more a MAG Seven problem than a MAGA one,&#8221; referring to market leaders Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).



&#8220;This isn&#8217;t about tariffs, it&#8217;s about a dose of reality in the AI space,&#8221; Bessent claimed, suggesting China&#8217;s DeepSeek AI breakthrough triggered the reassessment of U.S. tech valuations.



See Also: <a href="https://www.benzinga.com/tech/25/04/44658417/warren-buffett-stands-tall-in-2025-as-elon-musk-jeff-bezos-and-mark-zuckerberg-bleed-billions-in-net-worth-oracle-of-omaha-emerges-as-lone-gainer-among-top-billionaires-amid-market-rout">Warren Buffett Stands Tall In 2025 As Elon Musk, Jeff Bezos And Mark Zuckerberg Bleed Billions In Net Worth: &#8216;Oracle Of Omaha&#8217; Emerges As Lone Gainer Among Top Billionaires Amid Market Rout</a>



Why It Matters: Bessent defended the tariff strategy as &#8220;transformational for the American economy,&#8221; citing MIT research that previous 20% tariffs on China only increased U.S. prices by 0.7%. He framed the policy as temporary: &#8220;First, we collect. Then, we build. Then, the tariffs drop—but revenue from taxes and jobs goes up.&#8221;



The semiconductor sector has been particularly hard hit, with the iShares Semiconductor Index (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) falling 17% last week—its <a href="https://www.benzinga.com/25/04/44652055/its-more-a-mag-seven-problem-than-a-maga-one-treasury-secretary-says-as-wall-street-meltdowns">worst weekly performance</a> since the 2001 dot-com crash.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/media/25/04/44657800/trumps-tariffs-stir-global-markets-wall-street-loses-2-trillion-and-more-this-week-in-economics">Trump&#8217;s Tariffs Stir Global Markets, Wall Street Loses $2 Trillion, And More: This Week In Economics</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

SOXX

Stock Futures Tank, Dow Sheds Over 1000 Points As White House Remains Firm On Tariffs: Trump Says, 'Sometimes You Have To Take Medicine'

Editor&#8217;s Note: This story has been updated to provide more clarity on how stocks reacted to the Tariff announcement



Leading cryptocurrencies suffered a bloodbath on Sunday as concerns over President Donald Trump's tariff policies deepened.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-6.38%</td><td>$78,099.39</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-12.90%</td><td>$1,575.63</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-12.50%</td><td>$0.1478</td></tr></tbody></table></figure>



What Happened: Bitcoin tanked to an intraday low of $77,097.74 before clawing back to $78,000. Ethereum experienced a bigger rout, slipping below $1,600 for the first time since Oct. 2023.



The two heavyweights recorded a 179% and 272% jump in trade volume, respectively, signaling significant selling pressure.



Sunday&#8217;s dip came after cryptocurrency prices <a href="https://in.benzinga.com/markets/cryptocurrency/25/04/44651614/bitcoin-ethereum-xrp-dogecoin-stay-relatively-unharmed-despite-chinas-reciprocal-tariffs">remained relatively stable</a> on Friday during a period of intense stock market volatility.



Over $871 million was liquidated from the market in the last 24 hours, with nearly $750 million in longs erased.



Bitcoin's Open Interest fell by 0.33% in the last 24 hours, while funds locked in Ethereum's futures sank 8%.



Interestingly, traders appeared to be buying the dip, as the number of Bitcoin longs exceeded shorts as of this writing, according to the Long/Short Ratio.



The market sentiment went back into "Extreme Fear" mode, according to the Crypto Fear and Greed Index.



Top Losers (24-Hours)



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Berachain (BERA)</td><td>-19.50%</td><td>$4.63</td></tr><tr><td>Lido DA0 (LDO)</td><td>-16.80%</td><td>$0.6866</td></tr><tr><td>Movement (MOVE)</td><td>-16.39%</td><td>$0.3132</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $2.48 trillion, plummeting 7.39% in the last 24 hours.



Stock futures also sank Sunday overnight. The Dow Jones Industrial Average Futures plunged 1,012 points, or 3.13%, as of 8:30 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 tumbled 3.55%, while Nasdaq 100 Futures lost 4.55%.



Commerce Secretary Howard Lutnick <a href="https://www.cbsnews.com/news/transcript-commerce-secretary-howard-lutnick-on-face-the-nation-with-margaret-brennan-april-6-2025/">said</a> in a CBS News interview that tariffs won't be postponed and will "stay in place for days and weeks," pouring cold water on hopes of some relief from Trump&#8217;s <a href="https://www.benzinga.com/government/regulations/25/04/44618089/trumps-tariffs-surprise-triggers-carnage-magnificent-7-set-to-wipe-out-nearly-700-billion-">sweeping tariff measures</a>, which roiled stock markets last week.&nbsp;&nbsp;&nbsp;&nbsp;



The Dow and the S&amp;P 500 tanked 7.44% and 5.97%, respectively, with the broad-based index recording its worst decline on Friday since March 2020.



Following Trump's "Liberation Day" on Wednesday, the Dow fell over 9%, closing the week at 38,314.86. Similarly, the S&amp;P 500 plunged more than 10% in the last two trading days of the week, ending at 5,074.08. The Nasdaq Composite slipped over 11%, closing at 15,587.79.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Influential cryptocurrency analyst Ali Martinez anticipated a big Bitcoin breakout from a symmetrical triangle.



"As Bitcoin approaches the apex of this triangle, the odds for a significant price movement increase," Martinez said.&nbsp;



Martinez defined the region between $82,000 and $82,000-$87,000 as a "no-trade zone" and said that a sustained close outside of this range could trigger a 14% price move.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is ready for a big price move! <a href="https://t.co/ottMBlJ07M">pic.twitter.com/ottMBlJ07M</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1909019538567639069?ref_src=twsrc%5Etfw">April 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Economic analyst Jesse Colombo deemed $77,500 a "critical support level" for Bitcoin, failing which could lead to a sharp plunge.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$77,500 is a critical support level in Bitcoin and if that fails, it should plunge sharply from there&#8230;<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> <a href="https://t.co/G2GyFOHCv1">pic.twitter.com/G2GyFOHCv1</a>&mdash; Jesse Colombo (@TheBubbleBubble) <a href="https://twitter.com/TheBubbleBubble/status/1909033422665765334?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by CMP_NZ on Shutterstock



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44652091/if-you-had-invested-in-ethereum-when-eric-trump-said-its-a-great-time-youd-be-down-39">If You Had Invested In Ethereum When Eric Trump Said &#8216;It&#8217;s A Great Time&#8217;, You&#8217;d Be Down 39%</a></li>
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Cryptocurrency

$BTC

$DOGE

$ETH

Bitcoin Plunges Below $80,000, Ethereum, Dogecoin Crash As Cryptocurrencies Mirror Stocks Amid Trump Tariff Mayhem: Analyst Flags 'Critical Support Level' For BTC (UPDATED)

Bill Ackman, a prominent investor, expressed concerns over the U.S. tariff policies in a social media post on Sunday. Ackman highlighted the potential economic repercussions of escalating tariffs under&nbsp;President Donald Trump.



What Happened:&nbsp;He said on X that while the nation supports the president&#8217;s efforts to address global tariff imbalances, business relies heavily on trust and confidence. Ackman stated, &#8220;President @realDonaldTrump has elevated the&nbsp;tariff issue to the most&nbsp;important geopolitical issue in the&nbsp;world.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The country is 100% behind the president on fixing a global system of tariffs that has disadvantaged the country. But, business is a confidence game and confidence depends on trust. President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> has elevated the tariff issue to the most important geopolitical…&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1908992002366292286?ref_src=twsrc%5Etfw">April 6, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ackman warned that imposing significant tariffs indiscriminately could erode confidence in the U.S. as a reliable trading partner. The investor suggested a 90-day pause to negotiate fairer tariff agreements, potentially attracting substantial investment. 



&#8220;The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system.&#8221;



He cautioned that launching an &#8220;economic nuclear war&#8221; on April 9 could halt business investment and consumer spending, severely damaging the U.S. economy.



&#8220;The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative. This is not what we voted for.&#8221;



Ackman expressed concerns about the impact on both large corporations and smaller businesses, noting that many cannot absorb sudden cost increases. He urged the president to reconsider, warning of a &#8220;self-induced, economic nuclear winter&#8221; if current policies persist.



See Also:&nbsp;<a href="https://benzinga.com/25/04/44622754/tariffs-are-most-expensive-and-masochistic-could-cost-30-trillion-to-the-economy-erasing-300k-per-family-explains" target="_blank" rel="noreferrer noopener">Trump Tariffs Could Cost $30 Trillion Or About $300,000 Per Family, Says Former Treasury Secretary Larry Summers: &#8216;Most Expensive And Masochistic&#8217;</a>



Why It Matters: The concerns raised by Ackman come in the wake of <a href="https://in.benzinga.com/markets/equities/25/04/44640503/bill-ackman-just-pick-up-the-phonesays-trump-will-reward-early-dealmakers-punish-tariff-retaliation">significant market reactions</a> to Trump&#8217;s tariff policies. Recently, global markets experienced a $2 trillion loss in value following the introduction of sweeping reciprocal tariffs. In response, Ackman advised foreign leaders to engage directly with Trump, emphasizing his reputation as a dealmaker who views the world through a transactional lens.&nbsp;



An X user asked Ackman if he agreed with the way the Tariffs were calculated, and he simply answered, &#8220;No&#8221; to the question. He also expressed agreement with another user that pointed out that the &#8220;most important unintended consequences is that a trade war gives non-allies the opportunity to make tactical geopolitical gains against USA behind the veil of trade policy responses.&#8221;



 Ackman&#8217;s stance has faced criticism from notable figures such as&nbsp;Ross Gerber&nbsp;and&nbsp;Gary Kasparov. They have <a href="https://www.benzinga.com/25/04/44643409/ross-gerber-and-gary-kasparov-slam-bill-ackmans-defense-of-trumps-trade-war-tactics-this-is-garbage-policy">publicly denounced</a> his defense of Trump&#8217;s trade war strategies, labeling them as &#8220;garbage policy.&#8221; Gerber, in particular, challenged Ackman&#8217;s suggestion that appearing &#8220;crazy&#8221; in negotiations could be strategic.



Historically, Ackman has supported Democratic candidates, but he has <a href="https://www.benzinga.com/government/24/10/41495497/bill-ackman-dealmaker-donald-trump-is-key-to-avoiding-world-war-3">endorsed Trump</a> for the 2024 presidential election, citing national security concerns. This endorsement underscores the complexity of his views on Trump&#8217;s policies.



Did You Know?



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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



Image via Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Bill Ackman Warns Against Launching 'Economic Nuclear War,' Wants A 90-Day Time Out On Trump Tariffs

President Donald Trump's tariff hike sent shockwaves through global markets. While billionaires like Elon Musk, Jeff Bezos, and Mark Zuckerberg saw their fortunes plummet, Warren Buffett <a href="https://in.benzinga.com/markets/25/03/44345565/warren-buffetts-berkshire-hathaway-sold-134-billion-in-stocks-in-2024-timing-it-perfectly-as-recession-fears-mount-the-internet-is-in-awe">remained resilient</a> and in the green despite the chaos.



What Happened: On April 2, President Trump announced an aggressive new round of tariffs on goods imported from over 100 countries, including a 54% tariff on Chinese goods and 20% on EU imports.



The announcement sent global markets into a tailspin, resulting in a massive one-day loss for some of the world's wealthiest individuals, particularly in the tech industry.



Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX, saw his net worth drop by $19.9 billion, bringing his year-to-date losses to a staggering $130 billion, bringing him down to $302 billion.



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<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=523&amp;aff_id=1&amp;tblci=GiDztrPhRgf66i_FsvfOfYo_Yn9p12IB6nL8nUpMGNC31yDvwVook6q8vfDMmLc4MO-ISg"> your last chance to become an investor for $0.80 per share.</a></li>
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Amazon.com, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Jeff Bezos and Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Mark Zuckerberg also faced significant setbacks, with Bezos losing $7.59 billion and Zuckerberg's wealth dropping by $9.44 billion.



Year-to-date, Bezos has lost $45.2 billion, while Zuckerberg is down $28.1 billion, according to the Bloomberg Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>.



Meanwhile, luxury goods mogul Bernard Arnault, the chairman of LVMH Moet Hennessy Louis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMHF#OTC">LVMHF</a>), saw his net worth fall by $5.23 billion as shares in his conglomerate tumbled in Paris, exacerbating his year-to-date losses.



Larry Ellison, Larry Page, Sergey Brin, Steve Ballmer, and Bill Gates have also seen major losses, with each shedding tens of billions in wealth.



However, Buffett, the "Oracle of Omaha," stood out for weathering the storm. Buffett&#8217;s net worth dropped by $10.7 billion, but his year-to-date change remained in the green, with a $12.7 billion gain.



Why It's Important: The 92-year-old billionaire's conservative approach to investing has allowed him to remain relatively unscathed compared to other tech giants.



In 2024, Berkshire Hathaway offloaded a staggering $134 billion worth of stocks, while barely deploying any of the proceeds.



The company halted buybacks entirely in the second half of the year, allowing its cash pile to swell to a <a href="https://in.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald">record-breaking $334 billion</a> by year-end. At the time, critics questioned Buffett's caution, especially as the S&amp;P 500 notched back-to-back years of 20%+ gains.



Buffett also trimmed Berkshire's massive Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) stake from 49% to just 23% of the portfolio and also pared down holdings in Bank of America — a move that came just weeks before markets began to unravel.



Though Buffett has <a href="https://www.benzinga.com/news/25/03/44122159/warren-buffett-calls-tariffs-an-act-of-war-warns-they-function-as-a-tax-on-goods-amid-market-turmoil">sharply criticized tariffs</a> — once calling them "an act of war" and likening them to a hidden tax on consumers — he remains steadfastly optimistic about the future of American business.



Reaffirming his long-term confidence, he previously stated, "A majority of any money I manage will always be in the United States."



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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<li>Invest in the future of digital engagement —<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=559&amp;aff_id=1&amp;tblci=GiDztrPhRgf66i_FsvfOfYo_Yn9p12IB6nL8nUpMGNC31yDvwVook6q8vfDMmLc4MO-ISg"> own a piece of the $100 billion Metaverse for $500</a>.</li>



<li>The $1.3 billion startup investment boom:<a href="https://benzingapartners.go2cloud.org/aff_c?offer_id=551&amp;aff_id=1&amp;aff_sub=advertorial&amp;tblci=GiDztrPhRgf66i_FsvfOfYo_Yn9p12IB6nL8nUpMGNC31yDvwVook6q8vfDMmLc4MO-ISg"> How this company's explosive growth is opening doors for everyday investors with a new $500 minimum</a>.</li>
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Photo courtesy: Shutterstock

LVMHF

Warren Buffett Stands Tall In 2025 As Elon Musk, Jeff Bezos And Mark Zuckerberg Bleed Billions In Net Worth: 'Oracle Of Omaha' Emerges As Lone Gainer Among Top Billionaires Amid Market Rout

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