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- Dow Tumbles Over 1,000 Points:<\/strong> The Dow Jones Industrial Average dropped 1,014.79 points, or 2.5%, to close at 39,593.66, giving back a large portion of Wednesday\u2019s historic surge. Investors turned risk-off after the White House confirmed a steep 145% cumulative tariff rate on Chinese imports, reigniting fears of a deeper trade war and global slowdown.<\/li>\n\n\n\n
- S&P 500 Slides More Than 3%:<\/strong> The S&P 500 fell 3.46% to finish at 5,268.05, reversing much of its prior session\u2019s 9% gain, the third-largest since World War II. Sectors were broadly lower, with heavy losses in tech and consumer discretionary as market participants reassessed the economic fallout from the evolving tariff landscape.<\/li>\n\n\n\n
- Nasdaq Suffers Steep Tech-Driven Selloff:<\/strong> The Nasdaq Composite plunged 4.31% to close at 16,387.31, under pressure from sharp declines in heavyweight tech names. Apple dropped 4.2%, Tesla tumbled 7.3%, and Nvidia lost nearly 6%, while Meta Platforms slid almost 7%. Uncertainty around trade policy, particularly toward China, hit growth stocks hardest.<\/li>\n\n\n\n
- European Markets Surge on Tariff Pause Optimism:<\/strong> European equities staged their best rally in three years, driven by Trump\u2019s temporary 90-day tariff reprieve and a parallel decision from the European Union to pause counter-tariffs on US goods. The pan-European Stoxx 600 index soared 3.7%, reversing sharp losses from earlier in the week and placing all sectors in positive territory. Germany\u2019s DAX climbed 892 points, or 4.53%, while France\u2019s CAC 40 rose 292 points, or 4.25%. The FTSE 100 gained 3.04%, and Italy\u2019s FTSE MIB jumped 4.72%. Banking, industrials, and technology led the charge, each gaining over 4.5%.\u00a0<\/li>\n\n\n\n
- Asia Rallies as Tariff Relief Fuels Buying Fever:<\/strong> Asian stocks surged across the board, following Wall Street\u2019s prior rally and Trump\u2019s announcement of a broad-based 90-day tariff pause for most countries. Japan\u2019s Nikkei 225 rocketed 9.13% higher to 34,609, its biggest daily gain since 2008, while the Topix index advanced 8.09%. South Korea\u2019s Kospi surged 6.6%, with the Kosdaq up 5.97%, and Australia\u2019s ASX 200 rose 4.54%. Mainland China\u2019s CSI 300 lagged, gaining only 1.31%, as Beijing was singled out for a punitive 145% US tariff rate. Hong Kong\u2019s Hang Seng added 2.06%. Analysts warned that while the direct GDP hit to China may be limited, secondary effects from weaker demand and rising deflation risks could weigh on growth. China\u2019s CPI declined 0.1% y\/y in March, while PPI fell 2.5%, reflecting broad-based disinflationary pressures.<\/li>\n\n\n\n
- Oil Plunges Over 3% on China Tariff Escalation:<\/strong> US crude fell $2.07, or 3.32%, to settle at $60.28 per barrel, while Brent slid 2.98% to $63.53. Markets were rattled by the steep 145% US tariff on Chinese goods, which could curb demand from the world\u2019s top crude importer. Wednesday\u2019s rally was swiftly reversed as fears of protracted trade chaos resurfaced. Traders also questioned the US administration\u2019s ability to manage negotiations with dozens of countries simultaneously. Analysts warned that without clearer direction, energy markets may remain volatile despite softer inflation data and falling yields.<\/li>\n\n\n\n
- US Inflation Falls to 2.4% in March:<\/strong> The consumer price index (CPI) declined 0.1% month-over-month in March, pushing the year-over-year inflation rate down to 2.4% from 2.8% in February. Core CPI, which excludes food and energy, rose just 0.1% for the month and 2.8% annually \u2014 its lowest reading since March 2021. Both headline and core inflation came in below expectations of 2.6% and 3.0%, respectively. The weaker print fuelled hopes of a more dovish Fed, but the market\u2019s reaction remained muted amid broader concerns over trade tensions and economic fallout from rising tariffs.<\/li>\n<\/ul>\n\n\n\n
FX Today:<\/strong><\/p>\n\n\n\n
![\"\"](\"https:\/\/www.infinox.com\/global\/wp-content\/uploads\/sites\/5\/2025\/04\/Currency-Strenght-11Apr25.png\")
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- EUR\/USD Extends Rally to 8-Month High:<\/strong> EUR\/USD surged 2.31% to close at 1.1198, marking its highest level since August 2024. The pair has now rallied for five straight sessions, driven by bullish momentum and a technical breakout above key resistance near 1.1100. A crossover of the 50-day SMA above the 100-day SMA confirmed the upward shift in structure, while price remains well above the 200-day SMA at 1.0739. Immediate resistance lies at 1.1250, with further upside toward 1.1300 if momentum persists. Analysts noted the breakout from a multi-week consolidation range adds conviction to the uptrend, though short-term pullbacks remain possible given the steepness of the rally.<\/li>\n\n\n\n
- GBP\/USD Reclaims Strength Above 1.2900:<\/strong> GBP\/USD rose 1.09% to settle at 1.2965, recovering from earlier-week lows and building on a three-day winning streak. The pair found strong support at the 200-day SMA, now at 1.2816, and continues to push toward the key psychological level of 1.3000. With the 50-day and 100-day SMAs sloping upward, the short-term bias remains bullish. The next target lies at the March high of 1.3140, followed by potential resistance near 1.3200. To the downside, strong support remains in the 1.2700\u20131.2800 region. A daily close above 1.3000 would further validate the bullish trend and open the door to medium-term gains.<\/li>\n\n\n\n
- USD\/CHF Collapses to Multi-Month Low:<\/strong> USD\/CHF plunged 3.73% to close at 0.8243, breaking below key support at 0.8500 and extending its steep downtrend. The move brings the pair to its lowest level since August 2023, with momentum strongly favouring further downside. All major moving averages, the 50-day at 0.8876, 100-day at 0.8928, and 200-day at 0.8792, are above current price and trending lower, reinforcing the bearish structure. Initial support now lies at 0.8200, with little technical structure beneath that level. To the upside, any recovery faces immediate resistance around 0.8450, followed by stronger resistance near the 200-day SMA around 0.8800.<\/li>\n\n\n\n
- USD\/JPY Drops to 7-Week Low as Pressure Mounts:<\/strong> USD\/JPY slid 2.07% to finish at 144.65, its lowest close since late February. The pair broke down through the 145.00 level, which had acted as a key floor in recent weeks. The move solidifies a bearish technical outlook, with the pair trading below all three major SMAs and confirming a trend reversal from the March high near 151.80. Next downside targets include 143.00 and 141.50. The former support zone at 146.00\u2013146.50 now acts as resistance. With momentum strongly negative and no signs of reversal, sellers remain in control unless price can rebound back above the 147.00\u2013148.00 region.<\/li>\n\n\n\n
- Gold Retests All-Time Highs Amid Renewed Risk Aversion:<\/strong> Gold rallied 2.89% to settle at $3,171, fully recovering from last week\u2019s correction and approaching its record high of $3,175. The move marks gold\u2019s strongest day since April 2020 and underscores the strength of the broader uptrend. The metal remains above all key SMAs \u2014 the 50-day at $2,961, the 100-day at $2,814, and the 200-day at $2,684, all of which continue to slope upward. A clean break above the $3,175\u2013$3,180 range would open the path to $3,200 and beyond. Support lies at $3,080 and $3,000, with dips likely to be viewed as buying opportunities as long as gold stays above $2,960.<\/li>\n<\/ul>\n\n\n\n
Market Movers:<\/strong><\/p>\n\n\n\n
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- CarMax Drops on Earnings Miss:<\/strong> Shares of CarMax plunged 17% after the used car retailer reported fiscal fourth-quarter earnings of 58 cents per share, below the 65 cents expected by analysts polled by LSEG.<\/li>\n\n\n\n
- Harley-Davidson Falls After Director Resigns:<\/strong> Harley-Davidson sank 9.3% after board member Jared Dourdeville resigned, citing \u201cgrave concerns about the current state\u201d of the company and its leadership.<\/li>\n\n\n\n
- US Steel Declines on Trump\u2019s Opposition to Deal:<\/strong> US Steel slid 9.5% after President Trump expressed opposition to the company\u2019s proposed acquisition by Japan\u2019s Nippon Steel, saying he did not want to see the firm go to Japan.<\/li>\n\n\n\n
- Warner Bros. Discovery Drops as China Targets Hollywood:<\/strong> Shares of Warner Bros. Discovery fell 12.5% after China announced restrictions on Hollywood film imports, seen as retaliation in the escalating trade war.<\/li>\n\n\n\n
- Capri Holdings Declines After Versace Sale:<\/strong> Capri Holdings shares fell 10.6% after the company agreed to sell Versace to Prada for $1.375 billion, including debt, raising concerns about its brand portfolio and future strategy.<\/li>\n\n\n\n
- Bank Stocks Slide Amid Broad Sell-Off:<\/strong> Financials retreated sharply, with the SPDR S&P Bank ETF (KBE) down 5.9%. Goldman Sachs lost 5.2%, Citigroup fell 4%, and Bank of America declined 3.5% as the sector tracked the broader market drop.<\/li>\n\n\n\n
- Janover Surges on Crypto Treasury Shift:<\/strong> Janover soared 64.2% after the software firm announced its first purchase of the Solana token, part of a new crypto-based treasury management strategy unveiled earlier this week.<\/li>\n<\/ul>\n\n\n\n
Thursday\u2019s sharp reversal underscored the fragility of market sentiment as trade policy uncertainty once again took centre stage. Despite a brief reprieve on tariffs for most US partners and softer-than-expected inflation data, the renewed focus on steep Chinese duties rattled investors and erased much of the prior day\u2019s historic rally. Global equities remain highly sensitive to shifting political signals, with volatility likely to persist amid ongoing tariff announcements and retaliatory threats. Attention now turns to upcoming US economic data and any further policy comments from the White House, as markets look for clarity in an increasingly unpredictable environment.<\/p>\n","protected":false},"excerpt":{"rendered":"
US stocks suffered a sharp reversal Thursday, erasing a large portion of the previous session\u2019s historic rally as renewed concerns over escalating trade tensions with China shook investor confidence. The Dow plunged more than 1,000 points after the White House confirmed that cumulative tariffs on Chinese goods would climb to an unprecedented 145%. Although PresidentContinue Reading<\/a><\/p>\n","protected":false},"author":28,"featured_media":20405,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[110,1,112],"tags":[140,138,136],"class_list":["post-20403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-espresso-morning-call","category-ix-intel","category-market-news","tag-international-news","tag-market-updates","tag-whats-new"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t
- Harley-Davidson Falls After Director Resigns:<\/strong> Harley-Davidson sank 9.3% after board member Jared Dourdeville resigned, citing \u201cgrave concerns about the current state\u201d of the company and its leadership.<\/li>\n\n\n\n
- GBP\/USD Reclaims Strength Above 1.2900:<\/strong> GBP\/USD rose 1.09% to settle at 1.2965, recovering from earlier-week lows and building on a three-day winning streak. The pair found strong support at the 200-day SMA, now at 1.2816, and continues to push toward the key psychological level of 1.3000. With the 50-day and 100-day SMAs sloping upward, the short-term bias remains bullish. The next target lies at the March high of 1.3140, followed by potential resistance near 1.3200. To the downside, strong support remains in the 1.2700\u20131.2800 region. A daily close above 1.3000 would further validate the bullish trend and open the door to medium-term gains.<\/li>\n\n\n\n
- S&P 500 Slides More Than 3%:<\/strong> The S&P 500 fell 3.46% to finish at 5,268.05, reversing much of its prior session\u2019s 9% gain, the third-largest since World War II. Sectors were broadly lower, with heavy losses in tech and consumer discretionary as market participants reassessed the economic fallout from the evolving tariff landscape.<\/li>\n\n\n\n