Headlines

• Best Buy CEO: Trump tariffs will lead to price increases later this year

CEO Corie Barry said 55% of its products are sourced from China, and 20% from Mexico.

• Stock market today: S&P 500 ends lower as rebound fades ahead of Trump speech

Market opened lower, recovered into positive territory mid-day, and lost steam on escalating tension regarding tariffs

• Parts of US Treasury market show concern about Fed rate-cutting pause

Treasury yields have been falling. #US10Y at 4.54% one month ago, now it’s at 4.16%, below the federal funds rate which was 4.33%.

• Nvidia stock rebounds from Monday’s 9% decline as tariffs weigh on the market

China sales of $NVDA accounts for 13% of revenue.

• Trump tariff live updates: Canada, Mexico, China retaliate as Trump’s new tariffs go into effect

• America’s farmers again take center stage in Trump trade wars 2.0

Mexico came back with a 25% retaliatory tariff. Canada with upto 25% on $107b of US goods. China with upto 15% on US agricultural goods.

• Trudeau dismisses ’very dumb’ tariffs, says Trump wants to ruin Canadian economy

Meanwhile, Trump: “Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!,”

• The Trump trade dominated markets post-election. It’s now floundering — and here’s why.

• Tesla China shipments tumble, the latest sign of weakening demand

China Passenger Car Association (CPCA) reports $TSLA shipments to China falling 49% YoY to 31k in February. Meanwhile clean energy car sales as a whole were up 82%.

• Gold Rises as Escalating Trade War Boosts Lure of Haven Assets

• Oil Falls in Late Trading as Lutnick Says Tariffs May Be Lowered

#WTI slipped below $68/barrel

• Measles cases in Texas rise to 159, state health department says