ADDX GO Market Morning Wrap - 22nd Apr

Stock Market

On the first trading day of this week, as Trump, who was already bogged down in the Russia-Ukraine conflict and trade negotiations, turned his fire on Federal Reserve Chairman Jerome Powell, the US stock market plunged sharply.

 

At the same time, the US dollar and long-term US Treasury bonds also declined simultaneously.

 

At the close, the S&P 500 index fell 2.36% to 5,158.2 points; the Nasdaq Composite Index fell 2.55% to 15,870.9 points; and the Dow Jones Industrial Average fell 2.48% to 38,170.41 points.

 

Large-cap tech stocks generally declined. Tesla fell nearly 6%, while NVIDIA and Oracle fell more than 4%. Amazon and Meta fell more than 3%, and Microsoft, Google, AMD, and Taiwan Semiconductor Manufacturing Company fell more than 2%. Apple fell nearly 2%.$TSLA $NVDA $ORCL $AMZN $MSFT $TSM 

Key Events

• Trump's Warning: If Powell Doesn't Cut Interest Rates Immediately, the US Economy May Slow Down: Local time on Monday, US President Trump ramped up pressure on Federal Reserve Chairman Jerome Powell, calling him a "big loser" and warning that if interest rates are not cut immediately, the US economy may slow down.
• Can the AI Narrative Continue? After Microsoft, Amazon Also Reportedly Slows Down Data Center Expansion: Analysts at Wells Fargo said on Monday that, according to industry information they've gathered, cloud - computing giant Amazon has started to postpone some commitments to lease data centers. This is seen as the latest sign that economic uncertainties are affecting tech companies' spending.
• Disagreement in Japan-US Negotiations? Ishibashi: Security Issues Shouldn't Be Linked to Tariffs: Local time on Monday (April 21), Japanese Prime Minister Ishibashi said that discussions on security-related issues should be strictly separated from the tariff negotiations with the United States. "Tariffs are tariffs, and national security is national security. If we don't make this distinction, I think it may distort the essence of each issue," Ishibashi said at the Senate Budget Committee on Monday.

Forex & Commodities

The international gold price hit an all-time high. Spot gold closed 2.92% higher in late New York trading at $3,424.48 per ounce.

The settlement price of COMEX gold futures rose by $96.90, or 2.91%, to $3,425.30 per ounce, setting a record high.

 

International oil prices fell on the 21st. At the close of the day, the price of light crude oil futures on the New York Mercantile Exchange fell by $1.60 to close at $62.41 per barrel, a decrease of 2.50%; the price of London Brent crude oil futures fell by $1.70 to close at $65.30 per barrel, a decrease of 2.54%.

 

The role of the United States as the preferred destination for global capital and a pillar of the international financial system has been more seriously questioned. The US Dollar Index plunged again, hitting a new low since 2022.

Key Events

• The Sharp Fall of the US Dollar Drives the Gold Price to Soar Above 3,400. Trump Blasts Powell: Cut Interest Rates Now: During the New York session on Monday (April 21), the spot gold price strengthened rapidly. It broke through the $3,400 mark around 19:40 Beijing time, setting a new all-time high. Media analysis pointed out that the US tariff policy has triggered trade tensions, undermining investors' confidence in the US economy and financial markets. In addition, US President Trump's pressure on Federal Reserve Chairman Jerome Powell has severely hit the US dollar and pushed up precious metals priced in US dollars.

Cryptocurrency

Bitcoin rose 3.2% to $87,382. The 24-hour trading volume of this cryptocurrency surged 217.1% to $41.28 billion.

 

Ethereum (ETH-USD) fell 0.7% to $1,575.

 

XRP (XRP-USD) gained 0.5%, BNB (BNB-USD) was up 1.4%, while Solana (SOL-USD) dipped 0.2%.

 

Dogecoin (DOGE-USD) rose 2.4%, and Cardano (ADA-USD) increased 0.9%.

 

The total market value of the cryptocurrency industry surged 2.2% in the past 24 hours to $2.73 trillion, with trading volume rising 94% to $90.94 billion.

Key Events

• Strategy Spends $555.8 Million to Increase Its Bitcoin Holdings by 6,556 Coins: According to media reports, Strategy (formerly MicroStrategy) purchased 6,556 bitcoins between April 14 and April 20, with an average value of $84,785 (total: $555.8 million).

Market Events and Most Anticipated Earnings Releases