Thought it was just eating noodles in the dark, but Trump even kicked the bowl away.

Last night's U.S. stock market experienced an epic surge, skyrocketing within minutes before pulling back. The market is now in its second deep decline, but this one is different from all previous ones—it's a vertical plunge without any hesitation.

Last night, rumors swirled about tariff delays, fake news, and even talk of imposing an additional 50% tariff on China. Right now, everyone is eager to know how the tariff situation will unfold. Shelly will break it down for you.

To understand today's market, we need to go back to last week. Over just two days, Thursday and Friday, the market dropped 10%. Investors were anxiously waiting for updates on tariffs over the weekend, hoping Trump would soften his stance. But instead, he doubled down, framing it as tough medicine for a greater good. The U.S. has a $1 trillion trade deficit with China, and the tariffs are clearly aimed at addressing this. Europe has also been dragged into negotiations. For now, there's no room for compromise on tariffs. That night, stock index futures plummeted, with the Nasdaq and S&P 500 both dropping over 5%. Just as a circuit breaker seemed imminent, a rumor surfaced that Trump would delay tariffs for 90 days for all countries except China. But the relief was short-lived—the rumor turned out to be based on a Fox News interview where a White House economic advisor gave a non-committal answer. The market, hypersensitive at this point, ran with it (a prime opportunity to buy VIX for short-term speculation). The White House later clarified it was fake news, and stocks plunged again, losing their lifeline.

Then, in response to China's firm stance, Trump threatened to impose an additional 50% tariff on China by April 8 if China didn't retract its retaliatory measures, halting all negotiations. This only added fuel to the fire, showing Trump's unwavering resolve on tariffs. His advisors echoed this hardline stance: Treasury Secretary Mnuchin said retired Americans don’t care about daily market swings; a White House economic advisor told retail investors not to panic, promising massive tax cuts in a few months; the Commerce Secretary claimed Trump’s protectionism would revive U.S. manufacturing. Their comments make it clear: Trump won’t back down, no matter how much stocks drop.

Given the chaotic tariff news, it’s wise to prepare for the worst. I trust the U.S. system of checks and balances, but Trump’s attempt to unilaterally reshape global trade will face major resistance. That said, I’m not making aggressive moves in the short term—no one knows what policies he’ll announce tomorrow, how countries will retaliate, or how negotiations will unfold. Opportunity and risk go hand in hand; we must be ready for a long battle.

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