Bloomberg Daybreak: Europe Edition China To 'Fight To The End', Trump Market Shocks & iPhone Panic Buying
Apr 8, 2025
Tensions escalate as China vows to retaliate against new U.S. tariffs, heightening the risk of a trade war. Meanwhile, Japan positions itself favorably in tariff discussions with the U.S., leaving others in the dust. President Trump’s potential 50% import tax stirs confusion on Wall Street, prompting wild swings in the market. Billionaire Ken Griffin criticizes the tariffs as a mistake that burdens families. Amidst this chaos, the EU prepares countermeasures, including taxes on digital firms, signaling a tougher stance against U.S. policies.
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China's Retaliation
- China pledges to retaliate against Trump's increased tariffs, risking a prolonged trade war.
- Analysts warn this could lead to the decoupling of the world's two largest economies.
Market Volatility
- Asian shares rebounded after historic losses caused by Trump's tariffs.
- However, uncertainty remains, and downward momentum for earnings is expected.
False Tariff Pause
- A social media post about a potential tariff pause sparked a brief $2.5 trillion market rally.
- The rally quickly reversed when the White House denied the rumor, highlighting market volatility.