US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
The S&P 500 fell sharply Monday as renewed trade war fears rattled markets after President Donald Trump confirmed tariffs on Mexico and Canada will take effect Tuesday. He also signed an order to impose an additional 10% tariff on Chinese imports, bringing the total levy to 20%.
At market close, the Dow Jones Industrial Average dropped 648 points (1.5%), the S&P 500 declined 2%, and the Nasdaq Composite plunged 2.6%. The latest tariffs come as negotiations with Mexico and Canada failed to yield a deal, increasing concerns over economic growth.
Manufacturing data further fueled worries, with the ISM Manufacturing PMI rising to 50.3 in February, below expectations of 50.6. While this marked a second consecutive month of expansion after 26 months of contraction, demand weakened, and companies continued cutting staff. The Atlanta Fed’s GDPNow model now projects a 2.8% contraction in the U.S. economy for Q1, worsening from last week’s 1.5% decline estimate.
Tech stocks took a hit, with NVIDIA (NASDAQ: NVDA) tumbling over 8% after reports that Chinese buyers are bypassing U.S. export bans to access its Blackwell chips. Intel (NASDAQ: INTC) lost 4% despite earlier gains following reports that it is running manufacturing tests with Nvidia and Broadcom (NASDAQ: AVGO).
Bitcoin dropped over 8%, reversing earlier gains despite optimism over Trump’s proposed U.S. Crypto Strategic Reserve, which he said would include Bitcoin, Ether, XRP, Solana, and Cardano.
In M&A news, Capri Holdings (NYSE: CPRI) is reportedly nearing a deal to sell Versace to Prada for approximately $1.6 billion.
Markets remain volatile as investors assess the impact of tariffs and economic uncertainty.
