News

U.S. stock futures are tanking after the Trump administration imposed tariffs on goods from Mexico, Canada, and China that are due to take effect Tuesday.

Your day-ahead look for Feb. 3, 2025

Your day-ahead look for Feb. 3, 2025

Peter Schiff mocks Bitcoin’s 7% drop, comparing it to Punxsutawney Phil’s winter prediction. He calls it a "crypto winter" as markets tumble.

TCY tokens will be distributed at a rate of 1 TCY per dollar of defaulted debt, turning lenders and savers into equity holders.

Trump imposed hefty new tariffs of 25% over the weekend on imports from Mexico and Canada and 10% against China, saying this could cause "short-term" pain for Americans. "These announcements have come as a shock to many investors who expected tariffs would only be imposed if trade negotiations failed," the Wall Street brokerage said in a note dated Feb. 2. Goldman Sachs estimates that every 5-percentage-point increase in the tariff rate would lower the S&P 500's earnings per share by roughly 1% to 2%.

Hedge funds last week jettisoned global stocks and added bets they would decline, said Goldman Sachs, just before U.S. President Trump announced tariffs that sent global markets tumbling.

Investors fled from stocks and rushed to dollars in Monday trading in Europe and Asia, as they scrambled to process the consequences of President Donald Trump putting larger-than-expected tariffs on top U.S. trading partners. In three executive orders, Trump imposed 25% tariffs on Mexican and most Canadian imports and 10% on goods from China, starting on Tuesday. It's not as if investors didn't know that Trump, the self-proclaimed "tariff man", liked the idea of imposing tariffs.

Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money. Three crypto data firms, including Merkle Science and Chainalysis, analyzed the blockchain, a publicly available ledger that shows all transactions involving $Trump, for Reuters. One of the entities behind the crypto coin is a company owned by Trump, called CIC Digital.

Money market account interest rates today are well above historical norms. Find out where to get the best MMA rates.