U.S. stock futures were volatile on Friday after losing steam on Thursday. Futures of major benchmark indices were lower in premarket.



Data from the Bureau of Labor Statistics on Thursday showed the<a href="https://www.benzinga.com/news/econ-s/25/04/44733390/march-inflation-rate-cools-far-more-than-expected-raises-hopes-for-near-term-fed-rate-cuts"> annual inflation rate falling</a> to a six-month low of 2.4% in March, down from 2.8% in February and below the expected 2.6%.



Monthly, the Consumer Price Index contracted by 0.1%, a decrease from the previous month&#8217;s 0.2% increase and below the anticipated 0.1% rise, marking the lowest monthly reading since May 2020.



Investors will keep an eye on the headline and core producer price index data for March and April&#8217;s consumer sentiment data, slated to be released later today. Major banks will kick off the earnings season as they report earnings before the market opens on Friday.



The 10-year Treasury bond yielded 4.40% and the two-year bond was at 3.80%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 61.6% likelihood of the Federal Reserve keeping the current interest rates unchanged 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>-0.49%</td></tr><tr><td>S&amp;P 500</td><td>-0.34%</td></tr><tr><td>Nasdaq 100</td><td>-0.33%</td></tr><tr><td>Russell 2000</td><td>-0.32%</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, were lower in premarket on Friday. The SPY was down 0.52% to $521.85, while the QQQ declined 0.58% to $443.60, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Energy, information technology, and communication services sectors led Thursday&#8217;s U.S. stock market decline, overshadowing a rise in consumer staples.



The broader market saw the Dow Jones briefly plunge over 1,000 points as investors considered economic risks despite a newly announced 90-day tariff pause.



Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) was down 4%, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) declined 6%, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) slipped 7% as these were the significant individual stock decliners.



On the economic front, the Consumer Price Index fell to 2.4% in March, below expectations, with monthly inflation turning negative for the first time since May 2020.



After Thursday&#8217;s fall, the Nasdaq 100 index was 17.46% lower than its previous high of 22,222.61 points. The S&amp;P 500 index was down 14.31% from its record of 6,147.43 points, and the Dow Jones declined 12.16% from its 52-week high of 45,073.63 points.



The Dow Jones index dropped 1,015 points or 2.50% to 39,593.66, whereas the S&amp;P 500 index declined 3.46% to 5,268.05. Nasdaq Composite tumbled to end 4.31% lower at 16,387.31, and the small-cap gauge, Russell 2000, slipped 4.27% to 1,831.39.



<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>-4.31%</td><td>16,387.31</td></tr><tr><td>S&amp;P 500</td><td>-3.46%</td><td>5,268.05</td></tr><tr><td>Dow Jones</td><td>-2.50%</td><td>39,593.66</td></tr><tr><td>Russell 2000</td><td>-4.27%</td><td>1,831.39</td></tr></tbody></table></figure>



Insights From Analysts:



As the U.S. Core consumer price inflation excluding food and energy moved down to 2.81%, the lowest level since March 2021. And the overall U.S. CPI moved down to 2.39% in March, the lowest level since February 2021.



&#8220;Fed is likely to cut rates again on June 18th,&#8221; said Charlie Bilello from Creative Planning in an X post.



<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">Overall US CPI moved down to 2.39% in March, the lowest level since February 2021. US Core CPI (ex-Food/Energy) moved down to 2.81%, the lowest level since March 2021. Based on this data the Fed is likely to cut rates again on June 18th (25 bps cut down to 4.00-4.25%). <a href="https://t.co/2qI8nO4nDz">pic.twitter.com/2qI8nO4nDz</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1910313873929892200?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He added that this data &#8220;should be enough for the Fed to resume cutting rates in June.&#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">US Core CPI Inflation is back below 3% for the first time in 4 years. This should be enough for the Fed to resume cutting rats in June.<a href="https://t.co/l5IYmkeySJ">https://t.co/l5IYmkeySJ</a> <a href="https://t.co/pvOHrTLqaL">pic.twitter.com/pvOHrTLqaL</a>&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1910315991218659582?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



As tech stocks experienced significant volatility following President Donald Trump‘s tariff announcements, Alexander Morris, CEO of F/m Investments, viewed the pullback as a buying opportunity for select Magnificent 7 companies.



"We have long been investors in the Mag 7 — not all of them, but a handful of them — and you'll see us more into some Apple, which seems to be at a discount," Morris told Reuters. "We picked up some Meta, which seemed to have done well."



Morris recommends investors maintain a disciplined portfolio allocation, like a 60-40 mix, through market volatility, noting the repeated resurgence of such strategies.



He advises choosing an allocation and sticking with it through market cycles until life events necessitate a change, emphasizing its self-balancing nature. Morris also cautions against market timing, as significant returns often occur within a few key days throughout the year.



&#8220;The concern going forward is that prices will rise and the economy will slow,&#8221; said Cooper Howard, director, fixed income strategy at the Schwab Center for Financial Research. &#8220;This will put the Fed in a difficult place.&#8221;



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 Friday:



<ul>
<li>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>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) was up 0.019% in premarket on Friday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $2.20 per share on revenue of $16.57 billion.</li>
</ul>



<ul>
<li>Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) was 1.13% lower as Wall Street expects it to report earnings of $1.24 per share on revenue of $20.75 billion before the opening bell.</li>
</ul>



<ul>
<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) rose 0.7% as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $4.61 per share on revenue of $44.11 billion.</li>
</ul>



<ul>
<li>Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) dropped 1.16% as Wall Street expects it to report earnings of $1.51 per share on revenue of $4.77 billion before the opening bell.</li>
</ul>



<ul>
<li>BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) was 0.14% higher as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of $11.19 per share on revenue of $5.53 billion.</li>
</ul>



<ul>
<li>Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) was 0.32% lower as Wall Street expects it to report earnings of 52 cents per share on revenue of $1.95 billion before the opening bell.</li>
</ul>



<ul>
<li>Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) declined 1.68% after reporting estimated consolidated shipments for the three months ending March 31 at 1.2 million units, representing a 9% year-on-year decline.</li>
</ul>



<ul>
<li>MSP Recovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSPR#NASDAQ">MSPR</a>) surged 171.88% after securing massive $1.2 billion debt relief via strategic partnerships and creation of an independent servicer.</li>
</ul>



<ul>
<li>Calamos Global Dynamic Income Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHW#NASDAQ">CHW</a>) jumped 43.10% after strategically choosing Pretoria&#8217;s LightDeepEarth as its preferred assay lab to boost assay result turnaround for its Heavy Mineral Sands program and improve operational efficiency.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading higher in the early New York session by 0.15% to hover around $60.22 per barrel.



Gold Spot US Dollar advanced 1.30% to hover around $3,216.91 per ounce. Its fresh record high stood at $3,227.23 per ounce. The U.S. Dollar Index spot was lower by 1.69% at the 99.163 level.



Asian markets were mixed on Friday as India's S&amp;P BSE Sensex, China&#8217;s CSI 300, and Hong Kong's Hang Seng index advanced. Whereas, Japan's Nikkei 225, Australia's ASX 200, and South Korea's Kospi index declined. European markets were mostly lower in early trade.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cortez-demands-disclosure-from-congress-members">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a></li>
</ul>



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US Stocks Likely To Open Lower As Volatility Persists Before Bank Earnings: 'Fed Is Likely To Cut Rates Again On June 18th,' Says Expert

China has significantly increased tariffs on U.S. goods from 84% to an unprecedented 125% on Friday. This move comes as a countermeasure to the Trump administration&#8217;s similar actions.



What Happened: China&#8217;s&nbsp;Customs Tariff Commission of the&nbsp;State Council has declared that any additional tariffs imposed by the U.S. will be disregarded. "Given that U.S. exports to China already have no market acceptability under the current tariff rates, if the U.S. further imposes additional tariffs on Chinese goods, China will simply ignore them,"



The commission maintains that U.S. exports to China are already struggling to find market acceptability under the current tariff rates, <a href="https://www.scmp.com/economy/china-economy/article/3306151/china-raises-tariffs-us-goods-125?module=breaking&amp;pgtype=homepage">reported</a> the South China Morning Post.



A spokesperson for the Ministry of Commerce emphasized China&#8217;s commitment to safeguarding its legitimate rights and interests, supporting the multilateral trading system, and maintaining the stability of the international economic order. 



The ministry criticized the U.S. tariff measures as &#8220;a typical act of unilateral&nbsp;bullying and coercion,&#8221; which violate&nbsp;World Trade Organization rules and&nbsp;undermine the rules-based&nbsp;multilateral trading system and international&nbsp;economic order.



The spokesperson also called on the U.S. to &#8220;immediately correct its wrongdoings and&nbsp;revoke all unilateral tariffs imposed&nbsp;on China.&#8221;



In his first reaction to President Donald Trump&#8216;s tariffs on China, Xi Jinping told visiting Spanish Prime Minister Pedro Sanchez, "There are no winners in the tariff war and standing against the world ultimately results in self-isolation," as per state news agency Xinhua.



No matter how the external environment shifts, China will maintain its resolve and focus, dedicating itself to managing its own affairs efficiently,&#8221; added Xi.



SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44749653/bitcoin-ethereum-xrp-dogecoin-lose-steam-trader-warns-of-new-lows-under-one-condition" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Lose Steam, Trader Warns Of &#8216;New Lows&#8217; Under One Condition &#8211; Benzinga</a>



Why It Matters: The decision to increase tariffs comes as President Donald Trump awaits negotiation talks with his &#8216;friend&#8217; Xi Jinping. 



According to China expert and political commentator Gordon Chang, the Chinese President&nbsp;is avoiding direct negotiations with President Trump to prevent <a href="https://www.benzinga.com/markets/25/04/44755977/xi-jinping-steering-clear-of-trump-negotiations-to-avoid-political-backlash-at-home-says-expert-china-doesnt-have-any-cards-in-this-game">potential political backlash</a> at home. Xi is in a difficult position where initiating a conversation with Trump about the trade war could lead to backlash from his fellow Communist Party leaders. 



Notably, China is not immune to the adverse impact from Trump&#8217;s tariffs. Goldman Sachs downgraded China&#8217;s growth forecast and warned of risk to 20 million export-linked jobs in the nation. However, the investment bank cited overall global economic gloom as a reason besides Trump&#8217;s tariffs. 



<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/25/04/44728777/pence-calls-trumps-tariff-moves-misstep-cites-potential-economic-harm-to-working-families" target="_blank" rel="noreferrer noopener">Former Vice President Mike Pence Calls Trump&#8217;s Tariff Moves &#8216;Misstep,&#8217; Cites Potential Economic Harm To Working Families</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.

Xi Jinping Says 'There Are No Winners In Tariff War' As China Slaps 125% Tariffs On US Goods, Urges Trump To Immediately Correct 'Wrongdoings'

On Thursday, April 10, U.S. markets closed lower as renewed fears over President Trump&#8217;s escalating trade war with China erased much of the previous day&#8217;s historic rally.



The S&amp;P 500 and Nasdaq had surged following a 90-day tariff reprieve, but investor uncertainty quickly returned. Meanwhile, inflation eased in March, nearing the Fed&#8217;s 2% target, though the central bank&#8217;s path forward remains uncertain amid ongoing trade tensions with both China and Europe.



In economic data, Consumer inflation slowed to 2.4% year-over-year, down from 2.8% in February and below expectations of 2.6%—marking the lowest reading since September 2024. On a monthly basis, the Consumer Price Index fell 0.1%, the first decline since May 2020.



Most S&amp;P 500 sectors ended lower, led by sharp losses in energy, technology, and communication services. However, consumer staples outperformed, closing in positive territory.



The Dow Jones Industrial Average dropped 2.50% to 39,593.66, the S&amp;P 500 fell 3.46% to 5,268.05, and the Nasdaq Composite declined 4.31% to close at 16,387.31.



Related: <a target="_blank" href="https://www.benzinga.com/markets/25/04/44756353/xi-jinping-says-there-are-no-winners-in-tariff-war-as-china-slaps-125-tariffs-on-us-goods-urges-trump-to-immediately-correct-wrongdoings" rel="noreferrer noopener">Xi Jinping Says &#8216;There Are No Winners In Tariff War&#8217; As China Slaps 125% Tariffs On US Goods, Urges Trump To Immediately Correct &#8216;Wrongdoings&#8217;</a>



Asia Markets Today



<ul>
<li>On Friday, Japan&#8217;s Nikkei 225 fell 2.96% to close at 33,584.50, led by losses in the Paper &amp; Pulp, Transport and Communication sectors.</li>



<li>Australia&#8217;s S&amp;P/ASX 200 was down 0.82% and closed at 7,646.50, led by losses in the Healthcare, Utilities and Energy sectors.</li>



<li>India&#8217;s Nifty 50 was up 1.89% at 22,822.35, and Nifty 500 rose 1.94% at 20,749.50.</li>



<li>China&#8217;s Shanghai Composite rose 0.45% to 3,238.23, and Shanghai Shenzhen CSI 300 increased 0.41% to 3,750.52.</li>



<li>Hong Kong&#8217;s Hang Seng Index gained 1.26% to 20,943.00.</li>



<li>China raised tariffs on U.S. goods to 125%, escalating its trade war with Washington after Trump&#8217;s 145% hike. Beijing condemned the move as unilateral bullying.</li>
</ul>



Eurozone at 05:45 AM ET



<ul>
<li>The European STOXX 50 was down 1.23%.</li>



<li>Germany&#8217;s DAX declined 1.68%.</li>



<li>France&#8217;s CAC 40 fell 0.96%.</li>



<li>U.K.&#8217;s FTSE 100 index traded lower by 0.16%.</li>
</ul>



Commodities at 05:45 AM ET



<ul>
<li>Crude Oil WTI was trading higher by 0.27% at $60.23/bbl, and Brent was up 0.19% at $63.46/bbl.</li>



<li>Natural Gas fell 0.65% to $3.691.</li>



<li>Gold was trading higher by 2.00% at $3,241.60, Silver was up 2.01% to $31.380, and Copper rose 2.62% to $4.4500.</li>



<li>Gold <a href="https://www.benzinga.com/markets/commodities/25/04/44754594/gold-miners-rally-as-bullion-hits-3212-record-trump-tariffs-fuel-over-20-year-to-date-surge-across-sector" target="_blank" rel="noreferrer noopener">recorded </a>a new high as mining stocks continued their post-inauguration rally amid escalating U.S.-China trade tensions.</li>
</ul>



U.S. Futures at 05:45 AM ET



<ul>
<li>Dow futures were down 0.17%, S&amp;P 500 futures declined 0.06%, and Nasdaq 100 futures rose 0.39%.</li>



<li>U.S. stock futures fell as China hiked tariffs to 125%, escalating trade tensions. Markets fear global recession, with investors rattled by supply chain risks and economic fallout from the intensifying conflict.</li>
</ul>



Forex at 05:45 AM ET



<ul>
<li>The U.S. Dollar Index declined 1.60% to 99.23, USD/JPY was down 1.51% to 142.32, and USD/AUD slid 1.20% to 1.6050.</li>



<li>The U.S. dollar sank to a near two-year low as trade tensions escalated and confidence in U.S. assets eroded. Investors flocked to the euro, Swiss franc, and British pound instead.</li>
</ul>



Photo via Shutterstock

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China's Retaliatory Tariff Hike Escalates Trade War, Gold Soars, Dollar Hits Two-Year Low - Global Markets Today While US Slept

Intel Corp's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) <a href="https://www.benzinga.com/tech/25/03/44298588/lip-bu-tan-got-high-praise-from-tsmc-founder-morris-chang-for-saving-cadence-from-pretty-big-trouble-will-the-magic-work-at-the-new-intel">newly appointed CEO</a>, Lip-Bu Tan, has deep financial ties to China's tech sector, including investments in companies reportedly linked to the Chinese military.



What Happened: Tan has control over more than 40 Chinese companies and investment funds and holds minority stakes in over 600 others through firms he owns or manages — including at least eight with reported ties to China's People's Liberation Army (PLA), reported Reuters.



The report, based on U.S. and Chinese corporate filings, found that Tan retains control or minority stakes in hundreds of Chinese tech firms via Walden International and Hong Kong-based holding companies Sakarya Limited and Seine Limited. In many cases, he co-invested alongside Chinese government entities or state-owned enterprises.



See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it" target="_blank" rel="noreferrer noopener">Tesla And Other US Robotics Giants Demand Federal Strategy To Compete With China's $138 Billion Push — Warn America Will Lose The Race Without It</a>



Among the companies identified are suppliers and contractors for the PLA, including partnerships with China Electronics Corporation, a key PLA supplier sanctioned by the first Donald Trump administration in 2020.



Tan was also an early investor in Semiconductor Manufacturing International Corp (SMIC), China's largest chip foundry, which is under U.S. sanctions due to military links.



Why It Matters: While it&#8217;s not illegal for U.S. citizens to invest in Chinese companies unless they are specifically blacklisted, Tan's ties have raised questions given Intel's central role in producing advanced chips for the U.S. Department of Defense.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



The company <a href="https://www.benzinga.com/news/24/09/40897994/whats-going-on-with-intel-stock-on-tuesday">holds a $3 billion defense contract</a> and is involved in multiple national security-focused semiconductor initiatives.



In response to the publication, Intel said that Tan had completed a required director and officer questionnaire disclosing any potential conflicts. "We handle any potential conflicts appropriately and provide disclosures as required by SEC rules," a spokesperson said.



Intel did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.



Tan's appointment comes at a <a href="https://www.benzinga.com/media/25/03/44577045/intels-new-ceo-lip-bu-tan-says-trump-administration-ready-to-help-beleagured-chipmaker-warns-bureaucracy-kills-innovation">critical time for Intel</a> as it seeks to reclaim leadership in advanced chip manufacturing.



Critics argue that Tan's extensive financial involvement in China's tech and military-linked sectors may present a conflict of interest or at least warrant heightened scrutiny, the report noted.



"The simple fact is that Mr. Tan is unqualified to serve as the head of any company competing against China, let alone one with actual intelligence and national security ramifications like Intel," said Andrew King of Bastille Ventures.



Others, however, defend Tan's deep experience in global tech investing. "He was at the top of … most investors' lists," said Bernstein analyst Stacey Rasgon. "He's a legend."



While Tan has reportedly divested some Chinese holdings, the publication found no full accounting of those exits. Chinese corporate databases continue to list many of his investments as active.



Price Action: Intel's stock has dropped 1.68% year-to-date and is down 47.17% over the past 12 months, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



Despite the decline, Intel holds a respectable growth score of 3.48% based on Benzinga Edge Stock Rankings. You can see how it <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">compares to other companies by clicking here</a>.



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



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

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New Intel CEO Lip-Bu Tan Linked To Hundreds Of Chinese Tech Firms, Including Companies Tied To China's Military: Report

The cryptocurrency market cap dropped 2.80% in 24 hours to $2.54 trillion following President Donald Trump&#8216;s sweeping tariff announcement, imposing a 145% duty on Chinese imports and a 10% universal tariff on most other goods.



<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 9.47 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-3.34%</td><td>$79,672.33</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>-6,13%</td><td>$1,532.89</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>-1.35%</td><td>$0.1552</td></tr></tbody></table></figure>



On Thursday, Trump signed legislation nullifying a revised Internal Revenue Service rule that had expanded the definition of &#8220;broker&#8221; to include decentralized cryptocurrency exchanges.



The rule, finalized during former President Joe Biden&#8216;s administration, was criticized by the crypto industry as unworkable for DeFi platforms that lack visibility into user identities. This action fulfills part of Trump&#8217;s campaign promise to be a &#8220;crypto president.&#8221;



The Crypto Fear and Greed Index registered at 21, remaining in &#8220;Fear&#8221; territory for the second consecutive day, significantly down from November&#8217;s yearly high of 88.



Over $297.81 million in crypto positions were liquidated in the past 24 hours, affecting 101,191 traders. The largest single liquidation occurred on Binance&#8217;s ETH-USDT pair, worth $11.85 million, according to CoinGlass.



Top Gainers (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 9.47 p.m. ET)</td></tr><tr><td>Onyxcoin (XCN)</td><td>+45.76%</td><td>$0.01741</td></tr><tr><td>Curve DAO Token (CRV)</td><td>+13.16%</td><td>$0.5761</td></tr><tr><td>Render (RENDER)</td><td>+6.42%</td><td>$3.54</td></tr></tbody></table></figure>



Traditional markets reeled from Trump&#8217;s announcement of a temporary 10% universal tariff on most imports and a 145% duty on Chinese goods.



In Thursday's session, the S&amp;P 500, tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), closed at 5,268, down 3.46% after plunging over 4% earlier in the day. The Nasdaq-100, tracked by Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), dropped 4.19% to 18,343. 



Futures <a href="https://www.benzinga.com/markets/equities/25/04/44753780/us-futures-slide-nikkei-crashes-over-5-as-markets-reel-from-trumps-tariff-shock-and-await-key-inflation-data-bank-earnings">extended the slide Thursday night</a>, with Nasdaq-100 futures falling 1.26% to 18,251.75, S&amp;P 500 futures down 1.04% to 5,247.00, and Dow futures slipping 0.88% to 39,448.00. 



See Also: <a href="https://www.benzinga.com/news/25/04/44752456/obama-era-economist-jason-furman-says-trump-tariffs-now-higher-more-inflationary-than-announced-rais">Obama-Era Economist Jason Furman Says Trump Tariffs &#8216;Now Higher &amp; More Inflationary&#8217; Than Announced: Raising China Levies Outweighs 90-Day Delay On Others</a>



Analyst Notes:



Analyst Michaël van de Poppe noted the correlation between Yuan strength and Ethereum performance, suggesting a Yuan bounce could improve conditions for altcoins. He added that a decline in Treasury yields and gold prices, alongside dollar weakness, would create favorable conditions for the crypto market.



<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">Presumably I&#39;d want to see Yields to tumble down, alongside the Dollar and Gold to go down. The correlation between strength on the Yuan and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is massive and that&#39;s why I think that we should see a bounce up in the Yuan to improve the conditions for <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a>. <a href="https://t.co/HT9Q6tZUhX">pic.twitter.com/HT9Q6tZUhX</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1910356346731458570?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Popular on-chain analytics firm, Santiment, reported 132 new wallets holding 10+ BTC in the past day, indicating &#8220;a higher level of confidence from crypto&#8217;s key stakeholders&#8221; following Trump&#8217;s tariff announcement.



<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">&#x1f433;&#x1f988; Bitcoin&#39;s whales and sharks are growing in number, indicating a sudden shift after Trump implemented his 90-day tariff pause yesterday. Over the past day, +132 more 10+ <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> wallets exist, indicating a higher level of confidence from crypto&#39;s key stakeholders. <a href="https://t.co/5Q1MUxWBeP">pic.twitter.com/5Q1MUxWBeP</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1910421739940851945?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Technical analyst Ali Martinez warned of several bearish signals on Bitcoin&#8217;s chart, including a recent death cross formation and the SuperTrend indicator showing a &#8220;Sell&#8221; signal. Martinez identified key resistance levels at $82,500 (monthly open), the descending trendline from all-time high around $84,000, and moving averages at $85,800 (50-day) and $87,000 (200-day), suggesting significant technical barriers to overcome.



<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">While the recent <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> bounce has been strong, the higher time frames suggest caution: &#8211; Death cross recently formed on the daily chart &#8211; SuperTrend indicator still shows &quot;Sell&quot; &#8211; Monthly open at $82,500 acting as resistance &#8211; Descending trendline from ATH sits around… <a href="https://t.co/ugF6fawUeE">pic.twitter.com/ugF6fawUeE</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1910398935367115082?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Traders now await Friday&#8217;s March producer price inflation data and earnings reports from JPMorgan Chase &amp; Co. and Wells Fargo &amp; Co., which could further <a href="https://www.benzinga.com/25/04/44751312/wall-street-on-edge-bank-earnings-inflation-data-consumer-sentiment-set-stage-for-friday-fireworks">influence market sentiment</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/25/04/44747573/adam-schiff-and-elizabeth-warren-call-for-investigation-into-possible-insider-trading-by-trump-allie">Adam Schiff And Elizabeth Warren Call For Investigation Into Possible Insider Trading By Trump Allies As Markets Surge After 90-Day Tariff Pause: &#8216;It Sure Looks Like Corruption&#8217;</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.

Cryptocurrency

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Tumble As Trump Ups China Tariffs, Scraps IRS Rule In Nod To Crypto Voters: Rising Yuan Could Boost Altcoins, Says Analyst

U.S. stock futures fell on Thursday night as investors prepared to close a volatile trading week marked by dramatic market swings. 



Nasdaq-100 futures led declines, dropping 1.26% to 18,251.75, while S&amp;P 500 futures fell 1.04% to 5,247.00 and Dow futures slipped 0.88% to 39,448.00.



Japan's Nikkei 225 tumbled 5.39% to 32,744.89 in early Friday trading, shedding 1,864 points amid global market volatility. U.S. Treasury yields rose, with the 10-year up 8.4 basis points to 4.47% and the 30-year up 9.6 basis points to 4.94%.



Gold prices surged, with June COMEX contracts rising 1.61% to $3,228.60 as demand for safe-haven assets increased.



Markets remain on edge after President Donald Trump rolled out a temporary 10% universal tariff on most imports, while slapping China with a steep 145% duty, the White House <a href="https://www.cnbc.com/2025/04/10/trumps-triple-digit-tariff-essentially-cuts-off-most-trade-with-china-says-economist.html">told</a> CNBC. Still, Trump struck a hopeful tone, expressing confidence in eventually <a href="https://in.benzinga.com/government/regulations/25/04/44740040/chinas-growth-outlook-dims-as-trumps-125-tariffs-put-millions-of-jobs-at-risk-goldman-warns">reaching a deal with Beijing</a>.



&#8220;Would love to be able to work a deal with China,&#8221; Trump <a href="https://www.benzinga.com/government/regulations/25/04/44748635/stocks-bounce-off-session-lows-after-trump-says-china-deal-is-going-to-work-out">told reporters at the White House</a>. &#8220;I think we will end up working out something good for both nations.&#8221;



The comments helped major indexes trim earlier losses, with the S&amp;P 500 tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at 5,268, down 3.46% after falling more than 4% midday. The Nasdaq-100, tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), lost 4.19%, dropping to the 18,343 level.



Traders will face additional catalysts on Friday, including major bank earnings from JPMorgan Chase &amp; Co. and Wells Fargo &amp; Co., along with crucial March <a href="https://www.benzinga.com/25/04/44751312/wall-street-on-edge-bank-earnings-inflation-data-consumer-sentiment-set-stage-for-friday-fireworks">producer price inflation data</a> that could influence Federal Reserve policy decisions.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/25/04/44752456/obama-era-economist-jason-furman-says-trump-tariffs-now-higher-more-inflationary-than-announced-rais">Obama-Era Economist Jason Furman Says Trump Tariffs &#8216;Now Higher &amp; More Inflationary&#8217; Than Announced: Raising China Levies Outweighs 90-Day Delay On Others</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.

US Stock Futures Fall, Nikkei Crashes Over 5% As Markets Reel From Trump's Tariff Shock

The CNN Money Fear and Greed index showed an increase in the overall fear level, while the index remained in the &#8220;Extreme Fear&#8221; zone on Thursday.



U.S. stocks settled lower on Thursday, with the Dow Jones index dipping more than 1,000 points during the session as investors digested the 90-day tariff pause and weighed lingering economic risks to the outlook.



Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares fell over 4%, while Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) declined around 6% on Thursday. Shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) also tumbled more than 7% during the session.



On the economic data front, the Consumer Price Index fell from 2.8% year-over-year in February to 2.4% in March, below expectations of 2.6% and marking the lowest reading since September 2024. On a monthly basis, inflation was negative by 0.1% — the first decline since May 2020.



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



The Dow Jones closed lower by around 1,015 points to 39,593.66 on Thursday. The S&amp;P 500 fell 3.46% to 5,268.05, while the Nasdaq Composite dipped 4.31% to 16,387.31 during Thursday's session.



Investors are awaiting earnings results from Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) today.



What is CNN Business Fear &amp; Greed Index?



At a current reading of 8.4, the index remained in the &#8220;Extreme Fear&#8221; zone on Thursday, versus a prior reading of 12.3.



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/25/04/44734419/top-2-real-estate-stocks-that-may-keep-you-up-at-night-this-month">Top 2 Real Estate Stocks That May Keep You Up At Night This Month</a> </li>
</ul>



Photo via Shutterstock

Trading Ideas

Dow Tumbles Over 1,000 Points As Nvidia, Apple And Tesla Decline: Greed Index Remains In 'Extreme Fear' Zone

On Thursday, Cathie Wood-led Ark Invest made notable trades, prominently featuring Tempus AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) and Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>). The trades came as Wall Street <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44744139/wall-street-tumbles-dollar-crashes-gold-hits-record-highs-as-inflation-cools-more-than-predicted-whats-driving-markets-thursday">reversed Wednesday's rally</a> with a sharp selloff, as cooling inflation and hopes for Fed cuts were overshadowed by economic uncertainty and a 145% China tariff announcement by the Trump administration.



The Tempus AI Trade



Ark Invest&#8217;s flagship fund, the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), acquired 48,909 shares of Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>), valued at approximately $1.97 million based on the closing price of $40.29.



Tempus AI has been gaining attention for its advancements in AI-driven healthcare solutions. Ark has been trading shares of the company actively. Last week, it <a href="https://www.benzinga.com/25/04/44704064/cathie-wood-loads-up-on-18-2-million-worth-of-nvidia-stock-adds-5-8-million-worth-of-amazon-shares-to-her-shopping-cart-amid-trump-tariff-upheaval">scooped up</a> stock worth $1.74 million.



The Coinbase Trade



In another significant move, ARKK purchased 11,849 shares of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), amounting to approximately $2.01 million based on the closing price of $169.62. This acquisition comes at a time when the regulatory landscape for cryptocurrency trading in the U.S. is evolving, potentially making crypto leverage trading <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44739006/crypto-leverage-trading-in-the-us-may-become-more-accessible-heres-why">more accessible</a> to retail investors.



Coinbase, a leading cryptocurrency exchange, has announced plans to introduce a first-of-its-kind perpetual-style product in the U.S. and is also reportedly in talks to acquire crypto derivatives exchange Deribit



Other Key Trades:



<ul>
<li>ARKK bought 135,247 shares of Beam Therapeutics Inc. (BEAM).</li>



<li>ARKG sold 33,500 shares of Repare Therapeutics Inc. (RPTX).</li>



<li>ARKK acquired 191,500 shares of 10X Genomics Inc. (TXG).</li>
</ul>



How does Coinbase rank against other crypto picks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out</a> with Benzinga Edge Stock Rankings.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="794" height="109" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10215544/Screenshot-2025-04-11-at-10.55.27.png" alt="" class="wp-image-867031" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10215544/Screenshot-2025-04-11-at-10.55.27.png 794w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10215544/Screenshot-2025-04-11-at-10.55.27-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10215544/Screenshot-2025-04-11-at-10.55.27-768x105.png 768w" sizes="(max-width: 794px) 100vw, 794px" /></a></figure>



Image via Shutterstock



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/04/44753854/alibaba-jpmorgan-carmax-janover-tesla-why-these-5-stocks-are-on-investors-radars-today">Alibaba, JPMorgan, Carmax, Janover, Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a></li>
</ul>



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>

ARKK

COIN

Cathie Wood's Thursday Plays: Healthcare AI And Crypto — Ark Scoops Up Tempus AI and Coinbase Stock Amid Trump Tariff Crash

As Wall Street wraps up one of its wildest weeks in recent memory, all eyes are locked on Friday, a session poised to unleash a wave <a href="https://www.benzinga.com/news/econ-s">of market-moving catalysts. </a>



After Thursday's brutal sell-off in risk assets, investors are gearing up for a showdown featuring big bank earnings, fresh inflation data, and a critical read on consumer sentiment.



The S&amp;P 500, tracked via the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), is clinging to a 2.8% weekly gain, eyeing its strongest performance of 2025. That includes Wednesday's historic 9.5% surge, the index's largest one-day leap since the 2008 financial crisis.



<h3 class="wp-block-heading">Big Banks Kick Off Q1 Earnings Season</h3>



Some of the country's biggest financial institutions will kick off the first-quarter earnings season.



JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) are all slated to report earnings before the market opens Friday.



Here's what the median Wall Street analyst is expecting, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>:



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Name</td><td>Estimated EPS</td><td>Estimated Revenue</td></tr><tr><td>JPMorgan Chase</td><td>4.61</td><td>44.11B</td></tr><tr><td>Wells Fargo</td><td>1.24</td><td>20.77B</td></tr><tr><td>Morgan Stanley</td><td>2.20</td><td>16.58B</td></tr><tr><td>BlackRock</td><td>11.19</td><td>5.53B</td></tr><tr><td>Bank of New York Mellon</td><td>1.51</td><td>4.77B</td></tr></tbody></table></figure>



Earnings beats or misses will surely drive immediate action, but investors are zooming in on forward guidance, particularly commentary around how tariffs and uncertainty could affect credit conditions, loan growth, and capital markets.



"Mounting uncertainty from the economic impact of tariffs could result in slower loan growth, a flatter curve, weaker capital markets, and a deterioration in credit quality," said Richard Ramsden, senior analyst at Goldman Sachs, in a recent note.



<h3 class="wp-block-heading">Producer Prices, Consumer Inflation Expectations Take Center Stage In Fed Debate</h3>



On Friday at 8:30 a.m. ET, the Bureau of Labor Statistics will release the March Producer Price Index (PPI)—a key gauge of wholesale inflation and an increasingly critical signal for the Fed's rate path.



Consensus forecasts see headline PPI rising 3.3% year-over-year, slightly hotter than February's 3.2%. On a monthly basis, prices are expected to bounce by 0.2% after a flat February reading. More crucially, core PPI (excluding food and energy) is projected to climb 3.6% annually, up from 3.4%, with a monthly rebound of 0.3% after a 0.1% dip the prior month.



Hotter-than-expected readings could raise alarms that U.S. producers are already pricing in the inflationary effects of tariffs, fueling concerns at the Fed about a future pass-through of those costs to consumers.



At 10:00 a.m. ET, attention shifts to Main Street, as the University of Michigan's preliminary April consumer sentiment survey provides a timely snapshot of how everyday Americans are feeling in the face of growing economic uncertainty.



Economists anticipate a dip in the sentiment index to 54.5 from March's 57, marking the weakest read since July 2022. But the inflation expectation components will be under the spotlight.



Last month, year-ahead inflation expectations shot up to 5%, the highest since mid-2022. Any further acceleration could force the Fed to reconsider its path toward policy easing.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44748635/stocks-bounce-off-session-lows-after-trump-says-china-deal-is-going-to-work-out">China Deal Is &#8216;Going To Work Out,&#8217; Trump Says As Stocks Bounce From Session Lows</a></li>
</ul>



Photo: Shutterstock

Macro Economic Events

Regulations

Broad U.S. Equity ETFs

Econ #s

Wall Street Braces For High-Stakes Friday With Bank Earnings, Inflation Data, Consumer Sentiment In Focus

Wall Street trimmed steep losses in afternoon trading Thursday, following remarks from President Donald Trump, who expressed some optimism about reaching trade <a href="https://www.benzinga.com/topic/china">agreements, particularly with China</a>. 



"Would love to be able to work a deal with China," Trump told reporters at the White House. "I think we will end up working out something good for both nations.&#8221;



Trump raised the tariff on imports from China, America's largest trading partner, to 125% on Wednesday. 



&#8220;I think it&#8217;s going to work out,&#8221; Trump added.



Markets reacted swiftly. By 2:50 p.m. ET: 



<ul>
<li>The S&amp;P 500 — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — was down 3.2%</li>



<li>The Nasdaq 100 trimmed its decline to over 3.8%</li>



<li>The Russell 2000 was off 3.68%. </li>



<li>The Dow Jones Industrial Average also recovered, paring earlier losses from over 4% midday to 2.34%.</li>
</ul>



At midday, the S&amp;P 500 was down 4.8%, the Nasdaq 100 had plunged 5.4%, and the Russell 2000 had dropped 5.3%, wiping out nearly half of Wednesday's historic gains.



<h3 class="wp-block-heading">10% Baseline</h3>



Trump also attacked past trade policies, blaming NAFTA for the loss of nearly 90,000 factories and six million jobs—losses he claimed could have been avoided if tariffs had been in place earlier.



"We're going to bring them all back," Trump said.



Trump highlighted that the European Union initially planned to retaliate against U.S. tariffs but held back after seeing the U.S.&#8217;s aggressive stance against China. &#8220;They were very smart,&#8221; he said.



He also mentioned flexibility in tariff negotiations, suggesting that each country or company might be treated differently depending on the circumstances. 



&#8220;It&#8217;s possible that I would consider flexibility for countries and companies,&#8221; Trump said. &#8220;10% tariff is a baseline. But deals are all different, every country is different.&#8221;



Trump laid out potential uses for the money raised through tariffs, including paying down national debt, reducing the budget and creating border walls.



<h3 class="wp-block-heading">Market Reactions: Gold Eyes Record Close</h3>



At last check Thursday, <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a> data showed:



<ul>
<li>Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) was down 3.6% </li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) down 7%</li>



<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) down 3.73%</li>



<li>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) down 6%, and </li>



<li>Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) down 3.77%.</li>
</ul>



Yields on 30-year Treasury notes were still 8 basis points higher on the day to 4.82%, yet slightly trimming earlier spike during the session.



Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), traded 2.5% higher to $3,160 per ounce, on track to close at fresh record highs. 



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 3.9% to below $79,500, erasing nearly all Wednesday&#8217;s gains occurred following the 90-day tariff pause announcement.



Now Read: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44740040/chinas-growth-outlook-dims-as-trumps-125-tariffs-put-millions-of-jobs-at-risk-goldman-warns">China&#8217;s Growth Outlook Dims As Trump&#8217;s 125% Tariffs Put Millions Of Jobs At Risk, Goldman Warns</a></li>
</ul>



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China Deal Is 'Going To Work Out,' Trump Says As Stocks Bounce From Session Lows

After a spectacular risk-on rally on Wednesday, Wall Street sharply pulled back during Thursday's trading, as investors digested the 90-day tariff pause and weighed lingering economic <a href="https://www.benzinga.com/news/econ-s">risks to the outlook.</a>



Even a sharply lower-than-expected inflation report did little to support risk sentiment — a testament to how susceptible investors <a href="https://www.benzinga.com/news/econ-s/25/04/44733390/march-inflation-rate-cools-far-more-than-expected-raises-hopes-for-near-term-fed-rate-cuts">remain to economic uncertainty.</a>



The Consumer Price Index fell from 2.8% year-over-year in February to 2.4% in March, below expectations of 2.6% and marking the lowest reading since September 2024. On a monthly basis, inflation was negative by 0.1% — the first decline since May 2020.



While the data bolstered the case for near-term Fed rate cuts — markets are pricing in an 88% chance of a 0.25% move by June — traders remained cautious amid the ongoing tariff drama.



Read Also: <a href="https://www.benzinga.com/25/04/44740737/inflation-cools-but-too-soon-to-blow-the-all-clear-economist-says">Inflation Cools, But &#8216;Too Soon To Blow The All Clear,&#8217; Economist Says</a>



The S&amp;P 500 dropped 4.8% by midday in New York, erasing about half of Wednesday's historic gains, which had marked the index&#8217;s strongest rally since 2008. The Nasdaq 100 tumbled 5.4%, while small caps in the Russell 2000 sank 5.3%.



Despite the pullback in equities, traditional safe havens like Treasuries and the dollar also fell, raising concerns about waning international confidence in U.S. assets.



The U.S. dollar index — as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — nosedived 2% to the 101 level, its lowest since late September 2024.



Yields on 30-year Treasuries surged by 11 basis points to 4.85%, as bond vigilantes appeared to reassert themselves —effectively flashing red signals in Washington.



Meanwhile, gold continued to deliver stellar returns, with bullion hitting fresh record highs of $3,175 per ounce, up 2.4% on the day. Over the past two sessions, gold has rallied nearly 6%, the biggest two-day gain since March 2020.



On Thursday, the White House announced that the actual tariff rate on Chinese imports will be 145%. Meanwhile, the U.S. House of Representatives passed a budget plan extending the Trump-era tax cuts. Trump welcomed the news, saying it laid the groundwork for what he called "the largest tax and regulation cuts&#8221; in American history.



<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major Indices, ETFs</h1>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Major Indices</td><td>Price</td><td>Chg</td></tr><tr><td>Dow Jones</td><td>38,976.38</td><td>-4.0%</td></tr><tr><td>S&amp;P 500</td><td>5,193.60</td><td>-4.8%</td></tr><tr><td>Russell 2000</td><td>1,810.18</td><td>-5.3%</td></tr><tr><td>Nasdaq 100</td><td>18,119.84</td><td colspan="2">-5.4%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 12:05 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 5.2% to $517.46.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 4% to $389.66.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;sunk 5.5% to $440.99.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tumbled 5.3% to $179.66.</li>



<li>S&amp;P 500 sectors with largest drops were Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), down 6.7%; Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), down 6% and Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>), down 5.8%.</li>
</ul>



<h1 class="wp-block-heading">Thursday&#8217;s Stocks Movers</h1>



<ul>
<li>There were only 22 gainers within the S&amp;P 500, with Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) rallying 3.3%, amid rising gold prices. </li>



<li>Major losers included CarMax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) down 20%, Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), down 14%, and Celanese Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>), down 14%. </li>



<li>Magnificent Seven were all trading deeply in negative territory, with the group shedding nearly a trillion of combined market value. </li>
</ul>



<h1 class="wp-block-heading">Top U.S. Tech Stocks by Market Cap Loss – April 10, 2025</h1>



<ul>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) Market Cap Loss: $209.24 billion Daily Change: -7.50%</li>



<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Market Cap Loss: $181.32 billion Daily Change: -6.07%</li>



<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Market Cap Loss: $129.62 billion Daily Change: -6.40%</li>



<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Market Cap Loss: $124.82 billion Daily Change: -4.30%</li>



<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Market Cap Loss: $102.56 billion Daily Change: -6.91%</li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Market Cap Loss: $87.47 billion Daily Change: -9.99%</li>



<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Market Cap Loss: $79.85 billion Daily Change: -4.10%</li>
</ul>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/04/44710975/wall-streets-american-exceptionalism-trade-falters-as-dollar-stocks-bonds-all-slide">Wall Street&#8217;s &#8216;American Exceptionalism&#8217; Trade Falters As Dollar, Stocks, Bonds All Slide</a></li>
</ul>



Photo: Shutterstock Professional via Shutterstock

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Wall Street Tumbles, Dollar Crashes, Gold Hits Record Highs As Inflation Cools More Than Predicted: What's Driving Markets Thursday

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