U.S. markets edged lower Tuesday amid lingering trade uncertainty, while Bitcoin slipped under $84,000, dragging the broader crypto market down. Mixed corporate earnings and renewed U.S.-China tensions kept investors cautious, though strong bank results provided temporary relief.
Markets Tread Water Amid Volatility
• Dow drops 0.38% (155 points), while the S&P 500 and Nasdaq each fell 0.1%.
• Bank stocks shine: Bank of America (+4%) and Citigroup (+2%) outperformed after beating earnings expectations.
• Boeing slides 2% on reports China halted new plane orders, deepening trade-related strains.
Crypto Markets Mirror Broader Slump
• Bitcoin dipped 0.94% to $83,950, with major altcoins like Ethereum and Solana down 1-4%.
• The slump reflects risk-off sentiment as traders await clarity on tariffs and macroeconomic policy.
Trade Tensions Take Center Stage
• President Trump urged China to resume negotiations, warning that U.S. consumers are “too important to lose.”
• Temporary exemptions for smartphones and semiconductors failed to ease concerns, with luxury stocks like LVMH dropping on weak Chinese demand.
Market Outlook: Calm Before the Storm?
• The VIX “fear gauge” eased to 30 after spiking to 60 last week, signaling reduced—but persistent—uncertainty.
• Analysts note that while bank earnings provided a bright spot, the S&P 500 remains 4% below early-April levels.
