🚀 Trump expanding tariffs

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Donald Trump’s tariff machine just widened its net: the administration has slapped 50% duties on more than 400 additional steel- and aluminum-linked products, from car parts and construction materials to fire extinguishers and specialty chemicals, pushing the total value of affected imports to an estimated $320 billion. Officials framed the move as a crackdown on loopholes and a boost for domestic metals, but economists warn it could ripple through supply chains and pile more inflationary pressure onto consumers already facing higher prices. With the list buried in obscure customs codes, businesses are scrambling to decipher whether their goods are suddenly caught in Washington’s trade dragnet.

2. Palantir’s stock tumbled 9% on Tuesday, its fifth straight day of losses, as investors pulled back from the once red-hot AI name that had recently celebrated its first-ever $1 billion revenue quarter. Despite being 2025’s biggest gainer in the S&P 500, with shares still more than doubling this year, the company’s valuation, trading at more than 245 times forward earnings, has started to draw comparisons to dot-com era excess. The selloff underscores a growing tension between Palantir’s surging demand for AI-driven government and corporate contracts and Wall Street’s doubts over whether such momentum can sustain the lofty expectations already baked into its price.

3. Databricks has vaulted into the rarefied $100 billion club, announcing a new funding round that makes it only the fourth venture-backed company, after SpaceX, ByteDance, and OpenAI, to reach such a valuation. CEO Ali Ghodsi said the round will bring in more than $1 billion, fueled in part by surging investor appetite for AI-driven platforms and renewed optimism in tech following Figma’s blockbuster IPO last month. With revenue running at a $3.7 billion annualized pace and growing 50% year-over-year, Databricks is positioning itself as a formidable rival to Snowflake and major cloud providers like Amazon and Microsoft, while utilizing its fresh capital to expand AI products that can keep enterprise clients engaged.

   Headlines

   1. Wyoming has launched the first state-issued stablecoin.

   2. Crypto stocks feel significantly as investors rotate out of higher-risk ventures.

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