Overnight US stocks | Trump's tariffs "bomb" the market, with the Dow Jones Industrial Average falling by 1,300 points over two days.

On Tuesday, the three major indexes experienced violent fluctuations, with the Dow falling more than 800 points at one point, hitting a low of 42347.75 points. The Nasdaq fell over 2% at one point but reversed to rise during the trading day. In the final minutes of trading, the indexes fell again. This was the second consecutive day of declines for the Dow, with a total drop of over 1300 points in two days. The US tariffs on Canada and Mexico went into effect today. Canadian Prime Minister Trudeau announced that Canada would immediately impose a 25% tariff on $30 billion worth of US imports in retaliation. In response, Trump stated on social media that when Canada imposes retaliatory tariffs on the US, the US will increase tariffs by the same amount. The US Commerce Secretary unexpectedly mentioned after the stock market closed that Trump might reach a compromise on tariffs with Mexico and Canada and could announce it the following day. In the US stock market, the Dow fell 670.25 points, or 1.55%, to 42520.99 points; the Nasdaq fell 65.03 points, or 0.35%, to 18285.16 points; the S&P 500 fell 71.57 points, or 1.22%, to 5778.15 points. Among individual stocks, NVIDIA Corporation (NVDA.US) rose 1.6%, Tesla, Inc. fell 4.4%, Intel Corporation (INTC.US) fell over 6%, and Apple Inc. (AAPL.US) fell nearly 1%. In European stock markets, the DAX30 index in Germany fell 799.31 points, or 3.45%, to 22340.10 points; the FTSE 100 index in the UK fell 108.74 points, or 1.23%, to 8762.57 points; the CAC40 index in France fell 151.79 points, or 1.85%, to 8047.92 points; the Euro Stoxx 50 index fell 149.60 points, or 2.70%, to 5390.15 points; the IBEX35 index in Spain fell 361.25 points, or 2.70%, to 13027.05 points; and the FTSE MIB index in Italy fell 1305.40 points, or 3.34%, to 37764.00 points. In Asian equity markets, the Nikkei 225 index fell 1.2%, the KOSPI index in South Korea fell 0.15%, and the composite index in Indonesia fell 2.14%. In the forex market, the US Dollar Index, which measures the dollar against six major currencies, fell 0.94% to 105.743. At the close of the New York market, 1 euro exchanged for 1.0597 US dollars, 1 pound exchanged for 1.2787 US dollars, 1 US dollar exchanged for 149.27 Japanese yen, 1 US dollar exchanged for 0.8888 Swiss francs, 1 US dollar exchanged for 1.4503 Canadian dollars, and 1 US dollar exchanged for 10.4760 Swedish krona. Bitcoin rose over 1.66% to $87,609.77. Gold rose nearly 1% to $2929 per ounce on the COMEX gold futures market. US WTI crude oil saw a small decline on Tuesday. The OPEC+ alliance plans to increase production starting in April. Traders are also watching the tariffs between the US and Canada and Mexico as well as the retaliatory measures. The April contract for WTI crude oil on the New York Mercantile Exchange fell 0.11% to $68.26 per barrel. In macro news, analysts are shifting from expectations to concerns and the "Trump options" are disappearing. Analysts from institutional firms stated that the recent declines in US stocks have erased almost all the gains since the election, affecting Bitcoin and other risky assets as well. The hope for relaxed regulations, tax cuts, and fiscal stimulus measures from President Trump has now been replaced with concerns. Market strategists from Franklin Templeton Investment Management and Mosaic Company expressed concerns about the impact of the trade war on the US and global economic growth. They also mentioned the complexity and uncertainty in the current market situation. These analysts believe that a market correction might be imminent but that there are opportunities for growth and value in the market, especially for mid-cap and small-cap stocks. The market is currently in a "discount promotion" mode, with the range for profit growth expanding, which is a positive factor. Ukrainian President Zelensky stated that Ukraine is willing to start talks under US leadership as soon as possible and that a mineral agreement can be signed at any time. Zelensky expressed regret over the recent meeting with US President Trump at the White House and mentioned the importance of correcting mistakes and pursuing constructive cooperation and communication for lasting peace.Zelensky said that Ukraine is willing to sign the agreement at any time and in any convenient way, viewing it as an important step towards greater security and solid security guarantees, and he hopes the agreement can take effect. In addition, Zelensky also stated that in order to end the war as soon as possible, Ukraine proposes that in the first stage, both Ukraine and Russia release all captured personnel and implement a ceasefire in the air and at sea, prohibiting the use of missiles, drones, bombs, etc., to attack energy and other civilian facilities. Based on this, Ukraine hopes to take swift action in all subsequent stages and work with the United States to reach a strong final peace agreement.Federal Reserve's Williams: Tariffs may lead to price increases in the US. New York Federal Reserve Bank President Williams said he expects tariffs to boost inflation, but emphasized that there is significant uncertainty about how the economy will respond to President Donald Trump's tariffs. "Based on what we know now, considering all the uncertainties, I do take into account some of the impacts of tariffs on inflation and prices, as I think we will see some of these effects later this year," Williams said at an investment conference in New York on Tuesday. He also stated, "We must consider how this affects economic activity - business investment decisions, consumer spending decisions?" Williams said, "I think this is another major uncertainty." EU strongly condemns US tariffs on Canada and Mexico. European Commission spokesperson Olaf Gill issued a statement on the 4th criticizing the US tariffs on Canada and Mexico, and calling on the US to reconsider its trade policy. According to media reports, Gill said in an email statement, "We urge the US to reconsider its actions and seek a cooperative, rules-based solution that benefits all parties." He emphasized that at a time when international cooperation is more important than ever, this move by the US could disrupt global trade, harm major economic partners, and create unnecessary uncertainty. Former US Treasury Secretary Rubin: Trump spreading uncertainty and causing government rift. Former US Treasury Secretary Robert Rubin said President Donald Trump's economic policies have caused him to see the "greatest uncertainty" in his sixty-year career and warned that these measures will erode confidence, worsen America's fiscal situation, and jeopardize the country's reputation on the global stage. "A lot of things happening are undermining confidence, it's the case now, and I think it's likely to be the case in the future," Rubin said in an interview at the Bloomberg Investment Conference in New York on Tuesday, referring to confidence in the rule of law. He said that the Trump administration seems to be targeting opponents in law enforcement and openly violating commitments with trade partners. Rubin specifically pointed out that the Government Efficiency Department (DOGE) led by Elon Musk is causing "huge damage to beneficiaries of government and government services." "What DOGE is doing is tearing apart our government" rather than improving efficiency. [Stock News] Goldman Sachs Group, Inc. plans to lay off 3% to 5% of staff, targeting vice president level. According to foreign media, Goldman Sachs Group, Inc. is preparing for its annual layoffs, with a focus on vice president level employees. Sources said that Goldman Sachs Group, Inc. CEO Solomon has told executives that the company has hired too many vice presidents in recent years compared to overall hiring efforts. The layoffs are aimed at improving company efficiency, and Solomon has made it a priority. It is expected that layoffs will be around 3% to 5%, with Goldman Sachs Group, Inc. having a total of 46,500 employees by 2024. This round of layoffs is part of Goldman Sachs Group, Inc.'s annual staff reduction. Executives said that this year's layoffs may take place in the spring, rather than the usual September, which will help boost company performance at the beginning of the year.