Welcome to CG FinTech’s daily market news update for April 10, 2025.
We’re diving into today’s top financial stories: a massive stock market rally driven by a tariff pause and a turbulent crypto market facing multiple challenges. Here’s the breakdown with insights to keep you in the know.
Stocks Soar as Trump Pauses Tariffs
President Trump’s latest move has sent stocks into overdrive. On Wednesday, April 9, he announced a 90-day pause on “reciprocal tariffs,” lowering the rate to 10% for countries that don’t retaliate with counter-tariffs – except for China, where tariffs were hiked to 125% from 104% due to ongoing trade disputes. The market reaction was explosive:
- Historic Rally: The S&P 500 logged its largest one-day gain since 2008, while the Dow surged 2,400 points – its biggest jump in five years.
- Market Value Surge: Over $3.5 trillion flooded back into U.S. stocks, with the “Magnificent Seven” tech giants adding $1.5 trillion in value, per X posts.
- Nasdaq’s Big Day: The Nasdaq climbed 10%, reflecting a strong rebound in tech stocks.
- Treasury and Dollar Moves: Treasury yields steadied at 4.374% for the 10-year, and the U.S. dollar strengthened.
Mexico and Canada are exempt from the 10% universal tariff, but the 125% rate on China keeps tensions alive. While the tariff pause has sparked euphoria, the 90-day window leaves room for uncertainty – if negotiations falter, volatility could return with a vengeance.
Crypto Market Faces Turbulence
The crypto market, meanwhile, is on shaky ground, grappling with both market and regulatory pressures. Here’s what’s happening:
- Bitcoin Under Pressure: Bitcoin’s trading at $76,385 after a rough week, with some analysts warning of a potential drop to $10,000 if the market crash deepens.
- Market Sentiment: The total crypto market cap fell 4% to $2.43 trillion, and the Crypto Fear & Greed Index is at 15 – “Extreme Fear.”
- Crypto Stocks Hit: U.S.-listed firms like MicroStrategy and Coinbase saw declines earlier this week, with MicroStrategy considering selling part of its $8 billion Bitcoin holdings to cover $35 million in annual interest and $150 million in dividends.
- Regulatory Bright Spots: Pro-crypto Paul Atkins was confirmed as the new SEC chair, and the SEC approved options trading on spot Ethereum ETFs. Plus, 21Shares filed for a spot Dogecoin ETF, partnering with House of Doge for marketing.
- Tariff Impact on Mining: Hashlabs Mining’s CEO Jaran Mellerud warns that U.S. demand for Bitcoin mining rigs could collapse due to tariffs, potentially benefiting non-U.S. miners with cheaper surplus stock.
The crypto market’s struggles reflect its sensitivity to broader risk sentiment, but regulatory progress offers a glimmer of hope for a future rebound.
Stay Updated with CG FinTech
Today’s market news on April 10, 2025, shows a stark contrast: stocks soaring on a tariff pause while crypto faces headwinds. Follow CG FinTech’s Media Center for daily updates to stay ahead of these market shifts!
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