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Traders boosted bets on Tuesday the Federal Reserve will start cutting its policy rate as soon as next month, as the White House said additional tariffs on imports from China will go into effect on Wednesday in a further escalation of trade hostilities that could slow the economy. Traders put about a 56% chance of a Fed interest-rate cut in May, up from about 40% earlier in the day, based on the prices of short-term U.S. interest-rate futures traded at CME Group. They expect at least four more rate cuts through the end of the year.

Uncertainty remains as to what Trump will do next, and which countries could make a deal, and which might enter a trade war with Washington.

Previous crises saw the world's largest cryptocurrency tumble 50-70%, the report said.

The landscape in crypto media has shifted rapidly, and Blockworks cofounder Jason Yanowitz sees a big opportunity.

Lower energy prices are one of Trump's campaign promises, but an oil price crash could hit US producer margins.

Chicago Federal Reserve Bank President Austan Goolsbee said on Tuesday that U.S. President Donald Trump's announced tariffs are "way bigger" than had been modeled, and it's unclear how quickly or fully those higher costs will be passed on to consumers and to what degree businesses and consumers may react by hunkering down, slowing the economy. "We just lived through and learned what happens when inflation is raging out of control," Goolsbee said in an interview with Illinois Public Radio, in which he called tariffs a "negative supply shock" to which the Federal Reserve's response isn't necessarily clear.

Stocks surged at midday Tuesday, with the Dow Jones Industrial Average jumping nearly 1,000 points, as the major indexes rebounded somewhat from tariff-induced losses.

The European Union's securities watchdog warned on Tuesday that problems in the cryptocurrency industry could pose risks to broader financial stability in future, as the sector grows and as ties between it and traditional financial markets increase. The appeal for caution from the European Securities and Markets Authority (ESMA) comes as U.S. economic policies roil global markets and U.S. authorities look to remove some of the barriers between crypto and traditional banking sectors. "EU financial markets are, as we speak, under severe strain coming from the broader political and geopolitical developments," ESMA executive director Natasha Cazenave said in a speech to the European Parliament posted on the watchdog's website.

The move follows sharp drops in user activity and total value locked on Polygon as Base’s usage climbs

Shares of RPM International sank Tuesday as the specialty coatings and sealants company reported fiscal third-quarter results that came in weaker than analysts projected.