🌅 Morning Update (03.02.2025) 📉 U.S. indices tumble amid fears of a trade war after Trump's announcement of tariffs: 🇨🇦 Canada & 🇲🇽 Mexico: 25% tariffs. 🇨🇳 China: 10% tariffs. The US100 drops -2.5%, the US500 falls nearly 2%, and the US30 retreats -1.5%. Tech stocks face the brunt of the sell-off. 🇨🇦 Canada retaliates with C$155 billion worth of tariffs (wine 🍷, beer 🍺, food 🥘, appliances 🏠, etc.), while 🇨🇳 China announces retaliatory actions. Markets fear structurally higher inflation, complicating future rate cuts by the Fed. 💵 U.S. Dollar Index rises by nearly 1% amid risk aversion, though bond yields show mixed signals: 10-year yields dip to 4.51% 📉 2-year yields rise to 4.24% 📈 📊 Asian session sees heavy losses, marking the worst decline in six months: CHN.cash down -0.7% 🇨🇳 JAP225 loses -2.15% 🇯🇵 China’s January PMI disappoints at 50.1 vs. 50.6 forecast, while: 🇦🇺 Australia shows resilience: Retail sales fell just -0.1% m/m vs. -0.7% expected. Building permits increased 0.7% vs. a 1% forecast. 🏦 BoJ minutes reveal concerns about ongoing inflation above 2% for a 4th consecutive year. The Bank of Japan signals potential rate hikes if wage pressures 📈 and yen weakness 🇯🇵 persist. The USDJPY gains +0.2% on dollar strength. Commodities: Gold down -0.5% 🏆 Silver down -0.8% 🪙 NATGAS surges nearly 7% 🔥 Oil climbs over 1% 🛢️ 🇺🇸 Trump will meet with Canadian and Mexican representatives today. Talks aim to prevent tariffs from taking effect tomorrow, 04.02.2025. 💻 Crypto: bitcoin drops to $94,000 📉 Ethereum plunges -12% to $2,500. Altcoins like Cardano, Bitcoincash, Polkadot, and Ripple also suffer double-digit losses.