The latest in a series of reversed tariff threats by President Trump isn’t having the hoped-for effect on risk markets at least halfway through the U.S. trading day on Thursday.
The stock market initially bounced off a sharply lower opening and bitcoin (BTC) rose through $91,000 as Commerce Secretary Howard Lutnick — in an appearance on CNBC — said the president would exempt Mexico from his new 25% tariff for any goods or services covered under a previous trade agreement. The nicer stance toward the country’s neighbor to the south was confirmed later by a social media post from Trump.
The positive moves in markets were short-lived though, with the Nasdaq at its session low just past the noon hour on the east cost, down 2.3%. Bitcoin has pulled back to $88,500, down nearly 1% over the past 24 hours.
This just in: Stagflation
Possibly lost in the unending ebb and flow of news emanating out of D.C. is a sharp rise in interest rates across the developed world.
With U.S. military suppo
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