ADDX GO Market Morning Wrap - 9th Apr

Stock Market

U.S. stocks opened higher but then declined, and the three major indexes all closed lower. The Nasdaq fell by more than 2% (it rose by more than 4% at the beginning of trading).

As of the close of the day, the Dow Jones Industrial Average fell 320.01 points from the previous trading day, closing at 37,645.59 points, a decrease of 0.84%; the S&P 500 Index fell 79.48 points, closing at 4,982.77 points, a decrease of 1.57%; the Nasdaq Composite Index fell 335.35 points, closing at 15,267.91 points, a decrease of 2.15%.

In the Asian market, India's Sensex rose by 1.49%, the NIFTY 50 rose by 1.69%, Japan's Nikkei 225 soared by 6.03%, China Hong Kong's Hang Seng Index (HSI) rose by 1.51%, while Malaysia's KLCI fell slightly by 0.02%, Singapore's Straits Times Index (STI) fell by 2.01%, and Indonesia's IDX Composite Index fell by as much as 8.41%.

Key Events

• Former U.S. Treasury Secretary Warns: The U.S. Economy Is Heading for a Recession, Which May Lead to More Than 2 Million People Losing Their Jobs: On Tuesday local time, former U.S. Treasury Secretary Lawrence Summers said that due to the U.S. government's across-the-board increase in tariffs on its trading partners, the U.S. economy is now heading for a recession, which may lead to 2 million Americans losing their jobs.
• Canada Announces That the Reciprocal Tariff on U.S. Automobiles Will Take Effect on the 9th: The Canadian Ministry of Finance announced on the 8th that the measure of imposing a 25% reciprocal tariff on U.S. automobiles will take effect at 12:01 a.m. Eastern Time on the 9th.
• Paying for Trump's Policies! Micron Technology Is Reportedly Informing U.S. Customers to Charge a "Tariff Surcharge":As the so-called "reciprocal tariffs" of the United States are approaching the effective date, companies in the U.S. market have started to receive notices: they need to pay for Trump's policies immediately.According to media reports citing several informed sources, U.S. memory chip manufacturer Micron Technology has informed its U.S. customers that the company plans to impose a "surcharge" on some products starting from April 9 to cope with the new U.S. tariff policy.$MU 

Forex & Commodities

International oil prices fell on the 8th.

As of the close of the day, the price of light crude oil futures for May delivery on the New York Mercantile Exchange fell by $1.12, closing at $59.58 per barrel, a decrease of 1.85%; the price of London Brent crude oil futures for June delivery fell by $1.39, closing at $62.82 per barrel, a decrease of 2.16%.

International gold prices rose. The settlement price of COMEX gold futures rose by $16.60, an increase of 0.56%, closing at $2,990.20 per ounce.

Key Events

Cryptocurrency

Major digital assets fell in the late afternoon on Tuesday, with Bitcoin (BTC-USD) dropping below the $77,000 level.

Ethereum (ETH-USD) slumped 5.4% to $1,462.

XRP (XRP-USD) tumbled 4.2%, BNB (BNB-USD) was down 0.4%, and Solana (SOL-USD) sank 2.1%.

Dogecoin (DOGE-USD) lost 2.9%, and Cardano (ADA-USD) fell 2.8%.

Key Events