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As cryptocurrency investors faced a tumultuous night, the U.S. woke up to significant developments. The latest news highlighted ongoing negotiations with 50 countries, marking a crucial moment for the markets. Following this, a timely announcement prompted a swift recovery in stock prices.
What’s Driving the Crypto Surge?
The Federal Reserve is set to hold an unplanned meeting approximately an hour from now. While the U.S. negotiates with 50 nations, the much-anticipated news was a possible freeze on tariffs. Over the weekend, Trump emphasized his resolve, disregarding these matters, leading to accelerated market closures. Now, the expected statement has finally arrived.
Senior Advisor Hassett from the White House stated: “Trump is considering a 90-day hiatus on tariffs outside of China.”
In reaction to this announcement, the EU Trade Minister commented, “It’s time to start resolving some of the issues related to trade with China. Markets are responding to what could be the most significant paradigm shift since World War II.”
The EU appears to threaten the U.S. with the possibility of forming an anti-U.S. alliance with China. This statement followed shortly after the White House announcement, reflecting the seriousness of the situation.
Although the potential delay of tariffs has caused a rapid market rebound, certainty remains elusive without concrete actions. Important statements following the 6:30 PM meeting will be crucial. At 5:30 PM, Fed’s Kugler is expected to speak, and any significant announcement will also be reported.
Update: CNBC reported uncertainty regarding the validity of the news but showed rapid movements in the Nasdaq and S&P 500 markets, suggesting that a rumor circulating on Twitter may have influenced these shifts.
