Overnight US stocks | Financial and software stocks dragged down the three major indexes, as Bitcoin fell below the $65,000 mark. Precious metals saw a general rise.

On Monday, the three major indices were under pressure as U.S. President Trump announced that the "global import tariff" rate for goods imported into the U.S. will be increased from 10% to 15%. He also warned that after the Supreme Court ruling, countries that try to play games will face even higher tariffs. [US Stocks] At the close, the Dow Jones Industrial Average fell 821.91 points, or 1.66%, to 48804.06 points; the Nasdaq fell 258.80 points, or 1.13%, to 22627.27 points; the S&P 500 index fell 71.76 points, or 1.04%, to 6837.75 points. Precious metals and non-ferrous plate stocks led the gains, while application software and information technology services were among the top decliners, with IBM.US dropping over 13%, marking its largest single-day drop since 2000. Earlier, the artificial intelligence (AI) startup company Anthropic stated that its Claude Code tool can help modernize the outdated programming language COBOL. The Nasdaq China Golden Dragon Index fell by nearly 1%. Adobe (ADBE.US), Oracle Corporation (ORCL.US) fell by about 4.6%, Salesforce (CRM.US) fell by 3.7%, and Microsoft Corporation (MSFT.US) fell by 3.2%. [European Stocks] The German DAX30 index fell 258.99 points, or 1.03%, to 24987.81 points; the UK FTSE 100 index fell 8.14 points, or 0.08%, to 10678.75 points; the French CAC40 index fell 18.32 points, or 0.22%, to 8497.17 points; the Euro Stoxx 50 index fell 16.66 points, or 0.27%, to 6114.65 points; the Spanish IBEX35 index rose 123.20 points, or 0.68%, to 18287.30 points; the Italian FTSE MIB index rose 213.52 points, or 0.46%, to 46686.50 points. [Cryptocurrency] Bitcoin fell by nearly 4%, to $64958.23; Ethereum fell by 4.6%, to $1867.42. [Crude Oil] Brent crude oil futures fell by $0.27, or 0.38%, to $71.49 per barrel; New York Mercantile Exchange West Texas Intermediate (WTI) crude oil futures fell by $0.17, or 0.26%, to $66.31 per barrel. [Metals] Spot gold rose by 2.35%, to $5228.03 per ounce; spot silver surged to $88. [Macro News] House Speaker Pelosi: Congress is unlikely to reach consensus on legislation regarding Trump's tariffs. According to media reports, U.S. House Speaker Mike Johnson said on Monday that Congress is unlikely to consider any legislation that incorporates President Trump's tariff agenda into the statute, after the Supreme Court overturned the government's comprehensive tariff policy last week. Johnson said, "I think it will be challenging to reach consensus on the legislative path forward on tariffs. So I think that's why the focus is on the executive side, on what the executive branch and what they're doing and how they're responding to the ruling." Trump signals easing of US-Iran tensions: More inclined towards agreement over war. U.S. President Trump: Many reports from fake news media have been circulating, claiming that General Daniel Caine, sometimes known as Razin, opposes us going to war with Iran. These reports do not attribute this wealth of information to anyone and are 100% untrue. General Caine, like all of us, does not want war to happen, but if it is decided to confront Iran militarily, he believes we can easily win. He is very familiar with Iran, as he was responsible for the "Midnight Hammer" operation against Iran's nuclear program. All reports about a possible war with Iran are wrong, and deliberately so. I am the one making decisions, and I would prefer to make a deal rather than go to war, but if an agreement cannot be reached, it will be a very bad day for Iran and the Iranian people. It is very sad, they are great and beautiful, and such a thing should not happen to them. Lagarde: Even if lagging in developing cutting-edge models, Europe can still benefit from AI. Christine Lagarde, President of the European Central Bank, said in Washington on Monday, "Looking back at history, the bigger economic returns may not come from the production of these tools, but from applying them to broader areas of the economy." She particularly emphasized applications in manufacturing and industrial processes. She said, "In this regard, Europe has an advantage," and cited a survey that showed EU manufacturing companies are ahead of their U.S. counterparts in using artificial intelligence and big data, as well as deploying Siasun Robot & Automation. Lagarde said, "Europe's industrial base - sometimes seen as a legacy of the old economy - may prove to be its most important asset." It is widely believed that Europe is far behind the U.S. in the application and innovation of artificial intelligence. A report by former ECB President Draghi in 2024 pointed out that a key reason for the region's low productivity is its failure to benefit from the first digital revolution. [Stock News] Stock price plummet, market value evaporates by nearly half, Paypal attracts potential buyers' interest in acquisition. According to sources, Paypal (PYPL.US) is attracting potential buyers' interest in acquisition after its stock price plummeted, leading to a near halving of its market value. Sources said that the company, headquartered in San Jose, California, has been meeting with several banks among the interested parties. At least one major competitor is considering a complete acquisition, while other interested parties are only interested in some of Paypal's assets. Sources cautioned that acquisition intent is still in the preliminary stages and a deal may not necessarily be reached. Founded in the late 1990s, Paypal is a pioneer in the field of digital payments. However, the company is currently in a difficult situation as its customers are increasingly turning to other payment methods. Over the past 12 months, Paypal's stock price has fallen by about 46%, with a market value of about $38.4 billion. ASML Holding NV ADR reveals breakthrough in EUV light source technology, expected to increase chip production by 50% by 2030. Researchers at ASML Holding NV ADR (ASML.US) have found a way to increase the power of a key chip manufacturing equipment light source, potentially increasing chip production by as much as 50% by the end of this decade. ASML Holding NV ADR is the only global manufacturer of extreme ultraviolet lithography (EUV) equipment, which is a key tool for companies like Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR, Intel Corporation, and others to produce advanced computing chips. Michael Purvis, Chief Technology Officer for EUV Lithography at ASML Holding NV ADR, said in an interview, "This is not a gimmick, nor is it a trick that can only be demonstrated for a very short time. The system can stably output 1000 watts of power under actual operating conditions that fully meet the needs of customers." [Major Rating Updates] DA Davidson: Maintains Buy rating on NVIDIA Corporation (NVDA.US) with a target price of $250 Wells Fargo & Company: Lowers target price for Amazon.com, Inc. (AMZN.US) from $305 to $304