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🚀 Trump claims Canada/Mexico Tariffs will go into effect

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

Dow Jones  42,922.90 0.89%
S&P 500  5,815.39 -1.13%
Nasdaq  18,249.30 -5.50%
Russell 2000 2,099.69 -5.85%
TSX  24,945.48 0.88%
Bitcoin $85,380.37 -7.58%
Ethereum $2,103.18 -36.84%
US to Canadian Dollar $1.45 1.30%
  1. Trump is reigniting trade tensions by imposing 25% tariffs on Canada and Mexico, effective Tuesday, after scrapping hopes for a last-minute deal. The move, aimed at pressuring both countries on border security and drug trafficking, comes despite Mexico extraditing 29 cartel members and deploying troops. Stocks dropped further following his announcement, and a 10% tariff on Chinese imports is also set to take effect. While Commerce Secretary Lutnick hinted at possible flexibility, Trump insists that fentanyl and other illicit drugs are still "pouring into" the U.S., justifying the tariffs.

  2. Bitcoin's rally fizzled Monday, dropping 9% to $85,000, as concerns over Trump's 25% tariffs on Canada and Mexico overshadowed excitement about his strategic crypto reserve plan. Ether plunged 15% to $2,100, while crypto-related stocks like Coinbase (-5%) and Robinhood (-6%) also reversed gains. Over the weekend, Bitcoin surged to $95,000 on news of the reserve—including ETH, XRP, SOL, and ADA—but traders are now waiting for clarity at Friday’s White House Crypto Summit, where AI & crypto czar David Sacks hinted at “more to come.”

  3. Singapore has detained three individuals for misrepresenting the final destination of U.S.-made servers, likely containing Nvidia’s AI chips, deepening fears that export-controlled GPUs are still reaching China. The arrests follow suspicions that Singapore, Nvidia’s second-largest revenue source in 2024, was a conduit for AI hardware into China, especially after Chinese firm DeepSeek launched a cutting-edge AI model trained on Nvidia GPUs. Nvidia stock plunged 8% Monday, now down 14% in 2025, with Dell (-6%) and Super Micro (-11%) also sinking. While Singapore denies wrongdoing, analysts warn that a full China ban could slash Nvidia’s revenue by up to $5B—a major blow in the escalating U.S.-China AI rivalry.

  4. Headlines

    1. Taiwan Semiconductor Manufacturing Company has announced a $100M investment in the US.

    2. Anthropic has been valued at $64.5B in its latest funding round.

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