Wall Street Turmoil Deepens As Trump Threatens Massive China Tariffs, Bitcoin Wobbles At $78K: What's Driving Markets Monday?

A chaotic and volatile session kicked off the new week on Wall Street, with a start that offers little reason for optimism.

The S&P 500 opened with a gap below 4,900 points, then fiercely rebounded in the first hour of trading before the gains swiftly evaporated. Sentiment further deteriorated after Donald Trump adopted a more aggressive tone toward China.

On Truth Social, Trump stated that China had imposed retaliatory tariffs of 34%, on top of what he described as already record-setting tariffs, despite prior warnings that such measures would be met with significantly higher U.S. tariffs. He added that if China did not reverse the 34% hike by April 8, the United States would respond with additional tariffs of 50%, effective the following day.

He also indicated that all discussions with China regarding their requested meetings would be terminated, while negotiations with other countries that had expressed interest in talks would begin immediately.

The ...

https://www.benzinga.com/government/regulations/25/04/44670193/wall-street-turmoil-deepens-as-trump-threatens-massive-china-tariffs-bitcoin-wobbles-at-78