U.S. Stocks and Crypto Surge Amid Tariffs and Fed Chair Speculation
On Wednesday, April 23, 2025, U.S. stocks opened strong. The dow Jones climbed 2.2%, adding nearly 900 points. The S&P 500 jumped 2.7%, and the tech-heavy Nasdaq Composite soared over 3.6%.
Key stocks like Tesla, Nvidia, Palantir Technologies, and Apple led the gains in premarket trading. investors also focused on IBM, Boeing, and AT&T, which released corporate earnings that day.
President Trumpās comments that he has āno intentionā of firing Fed Chair Jerome Powell boosted investor confidence. Though,Trump still wants Powell to handle interest rates differently. This statement calmed markets after a week of tension.
Trade war fears also influenced the market. Reports of progress in trade talks between the U.S. and its partners lifted stocks. The White House noted that massive tariffs, especially against China, are āunsustainable.ā
Crypto markets also benefited. Bitcoin rose over 4%, reaching above $94k. Several altcoins saw double-digit gains. The 10-year Treasury yield fell 10 basis points to 4.274%, and the 2-year Treasury yield dropped 3 basis points to 3.783%.
the marketās positive reaction was due to a mix of factors, including trade talks and Trumpās stance on Powell. This created a bullish surroundings for both stocks and crypto.
