CNBC

Trump trade fight: Customs starts collecting new tariffs on imports from 86 countries at midnight

Elon Musk ratchets up attacks on Navarro as Tesla shares slump for fourth day

• Musk called Navarro “dumber than a sack of bricks,” before later apologizing to bricks. Musk also called Navarro “dangerously dumb.”

Tech analyst responds to Trump wanting Apple to make iPhones in U.S.: ‘I don’t think that’s a thing’

• Wedbush analyst Dan Ives said an iPhone would cost $3,500 if produced in the country.
• Additionally, the process of Apple moving its supply chain to the U.S. would take years, Martin said. Most supply chain experts say making iPhones completely in the U.S. is impossible.

Investing.com

Stock Market Today: S&P 500 ends below 5,000 in ugly reversal on trade war angst

• amid rising worries about global trade war as the Trump administration prepares to hike levies on China at midnight.
• President Trump later Monday reaffirmed his administration’s commitment to implementing reciprocal tariffs, downplaying any leeway for negotiations.

Is China dumping US treasuries?

• Today, the U.S. 5-year treasury rose 2% to 3.918%, the 10-year rose 3.2% to 4.291%, and the 30-year rose 3.6% to 4.762%.
• China held $761 billion in U.S. treasuries as of the end of January, the second largest foreign holder behind Japan at $1.08 trillion.

Reuters

Wood Mackenzie cuts 5-year US wind energy outlook 40% on Trump policies

Trump says US taking in $2 billion a day from tariffs

• For the entire month of February, the latest full month available, the Treasury netted about $7.25 billion in customs duties. The monthly budget statement for March will be released on Thursday, which will show the latest monthly figures.

Yahoo Finance

Trump’s China tariffs send stocks tumbling as ‘FOMO’ rally fades, S&P 500 closes at lowest level in a year

• “At the slightest whiff of good news, people come roaring back in because that FOMO [fear of missing out] never goes away,”

Signs of Wall Street stress pile up amid Trump tariff turmoil

• IPOs and mergers were put on the shelf. Leverage loan deals were shoved to the sidelines. Bond sales were paused.
• One concerning development is that there were no new offerings in the investment-grade and high-yield bond markets for three days, according to Reuters, as credit spreads widened due to concerns about the rising odds of a recession.

WSJ

Supreme Court Halts Order Requiring Trump Administration to Reinstate Federal Workers

• The Supreme Court lifted a lower-court order that directed the Trump administration to reinstate about 16,000 federal employees it fired, handing the White House the third victory in a row as it seeks the justices’ emergency action to stop district judges from slowing its policies.

Justice Department Scales Back Crypto Enforcement

• The department will no longer bring charges against exchanges, dealers, mixing services and wallet providers “for the acts of their end users,” according to a memorandum issued late Monday by Deputy Attorney General Todd Blanche.