📉 US Dollar DUMPS

Plus: China fires back AGAIN

Author

Journals GG
April 11, 2025

Good morning!

Markets are reeling as China fires back with steep tariffs, the dollar nosedives, and Wall Street tanks despite a temporary pause in Trump’s trade war. JPMorgan earnings, surging gold prices, and safe-haven shakeups show just how shaky investor confidence has become.

Grab your flat white and let’s break it down ☕️👇️ 

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Markets

🇨🇳 China hits back, hikes tariffs on US goods to 125% from 84%
China just clapped back at Trump’s tariff hike, hard. On Friday, Beijing announced it’s cranking tariffs on U.S. goods up to 125%, dialing up the heat in an already tense trade war. This hits just as Trump’s team tries to calm markets with a 90-day “pause” on new tariffs.

Here’s what happened. The White House now says U.S. tariffs on China are actually at least 145%, not the 125% Trump mentioned, which spurred on the Increase from China. Despite the chaos, Trump and Treasury Secretary Scott Bessent are out here saying everything’s going to “work out.” Bold claim.

Wall Street was red on Thursday as stocks tanked, erasing much of the historic surge from Trump's tariff pause. The Dow dropped over 1,000 points, while the Nasdaq slid 4.3% and the S&P 500 fell 3.5%, pulling back after their biggest rallies in over a decade.

🏦 JPMorgan earnings provide first look at Wall Street tariff turmoil
All eyes are on JPMorgan this Friday, as it reports Q1 earnings with Wall Street hunting for any signal on how Trump’s tariff chaos might shake the bank’s future. Jamie Dimon’s voice will carry weight, earlier this week, he warned of rising inflation, slower growth, and a “likely” recession. But that was before Trump hit pause on some tariffs, offering a flicker of hope for cooler heads in the coming months.

💵 US Dollar Collapse Boosts Safe Havens Yen, Franc and Euro
Markets are in full-blown defense mode, but even the usual safe-havens are getting rocked. Investors scrambled overnight, dumping the dollar in a clear sign of panic, but U.S. Treasuries didn’t get their usual safe-haven love, instead, they took a hit too. Yields surged, with the 10-year at 4.45% and the 30-year nearing 4.90%, its highest in 16 years.

Gold soared past $3,200, hitting record highs as confidence in U.S. assets keeps crumbling. MUFG warned that if Treasuries are no longer seen as reliable, volatility is only going to spike further. ING says the dollar drop reflects a growing “sell America” mood, especially with Trump’s trade policies continuing to fuel recession fears and market instability.

Meanwhile, GBP/USD shot up to 1.3085 as the dollar crumbled, and analysts now eye 1.3210 and 1.3290 as key breakout points.

🫵 3 Things You Should Never Do When the Stock Market Is Volatile (and 3 Things You Should)
Feeling lost in the market chaos? You’re not alone. But experts say now’s the time to stay calm, stay strategic, and resist knee-jerk reactions. There are smart moves to make, and just as importantly, bad ones to avoid. This article breaks down how to navigate this storm without losing your mind (or your money).

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