Markets
Markets The US market plummeted due to concerns over the economy. Starting with $WMT reporting gloomy guidance, hinting at pressure on even the most price-sensitive corners of the economy. The Michigan survey reported a similar decline in consumer sentiment and a pessimistic inflation outlook. $SPX steadily fell throughout the trading session. Meanwhile, Trump doubled down on his stance to levy “interesting” tariffs. Optimism in China is brewing, as AI comes into the belated limelight. $HSI rose 4%.
Headlines
• ‘The tariffing is going to be interesting’: Donald Trump caps off a week of tariff threats
Trump re-confirmed the incoming tariffs.
• Stock market today: Dow, S&P 500, Nasdaq sink as consumers start to sour on US economy
Michigan Consumer Sentiment index saw a sharp decline in Feb, to 64.7 compared to 71.7 in Jan.
• SEC commissioner Hester Peirce promises ‘more clarity’ for crypto industry
• Dow drops 700 points for worst day of 2025 so far on new fears about economic growth: Live updates
Michigan 5-year inflation outlook was 3.5%, the highest since 1995.
• Beijing embraces DeepSeek to lead AI adoption as it looks for new growth drivers
iShares MSCI China ETF($MCHI) rose 19% YTD. Xi greeting DeepSeek founder Liang Wenfeng was a clear signal.
• U.S. could cut Ukraine’s access to Starlink internet services over minerals, say sources
The meeting between Zelenskyy and Keith Kellogg involved threats to shutoff Starlink if a deal on minerals were not reached. The world has been and will be cruel …
• Shortage of Novo Nordisk’s Wegovy and Ozempic drugs is resolved, FDA says
Shares of Hims & Hers ($HIMS) offering compounded Wegovy and Ozempic plummeted 26%.
• Google, Meta execs blast Europe over strict AI regulation as Big Tech ups the ante
Says EU regulation on AI came about even before ChatGPT was launched.
• NVIDIA CEO Jensen Huang explains how the stock market got it wrong on DeepSeek
Says it’s not simply pre-training, then inference. In fact there will continue to be post-training, which is where the model learns to solve problems.
• DDN’s Beyong Artificial video featuring Jensen Huang
• Trump administration pushes out top China export policy official, sources say
They must have been at odds.
• Trump’s 10% oil tariff could cost foreign producers $10 billion annually, Goldman Sachs says
