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24H Hot Coins and News | US SEC releases information about the Cryptocurrency Custody Roundtable; DBR airdrop is now available (4.18) Trump: Powell will cut interest rates sooner or later. The only thing he is good at is cutting interest rates.

U.S. stocks ended mixed on Thursday as steep losses in UnitedHealth pulled the Dow lower. Investors digested ongoing trade tensions and signals from the Federal Reserve that interest rate cuts may not be imminent. The Dow Jones Industrial Average fell 1.2%, or roughly 500 points, largely due to a 23% plunge in UnitedHealth shares after the company slashed its full-year profit forecast. The S&P 500 rose 0.2%, buoyed by gains in select sectors, while the tech-heavy Nasdaq Composite edged down about 0.13%. Nvidia fell for a second day after the U.S. expanded restrictions on chip sales to China. The market’s attention remained fixed on Fed Chair Jerome Powell, who warned Wednesday that higher tariffs could slow growth and push inflation higher. Powell said the Fed would wait for more clarity on trade policy before making any rate decisions, dampening expectations for immediate rate cuts. President Trump responded by intensifying criticism of Powell, suggesting the Fed chair’s “termination cannot come fast enough” and reportedly discussing his possible replacement. Adding to market uncertainty, reports indicated Trump had spoken with former Fed governor Kevin Warsh as a potential successor to Powell. Elsewhere, chipmaker TSMC beat expectations with a 60% surge in Q1 net profit, thanks to AI chip demand. Investors also awaited earnings from Netflix, seen as a rare tech bright spot amid broader weakness in the sector. Yields on the 10-year Treasury rose to 4.325%, and the U.S. dollar ticked up modestly. Stock and bond markets will be closed Friday for Good Friday. Bitcoin ( BTC ) temporarily traded above $85,000 but settled in the $84,600 range at the time of writing.

The former SEC chairman will serve as the interim U.S. attorney for the Southern District of New York, and the appointment was accused by Democrats of conspiracy According to what U.S. President Trump posted on Truth Social on Wednesday, New York Senator and Democratic Minority Leader Chuck Schumer blocked Jay Clayton's nomination, causing Clayton to currently serve in a temporary position, so the former chairman of the U.S. SEC will have to wait longer to officially become the federal prosecutor of the Southern District of New York (SDNY). Because the federal trial court of the Southern District of New York (SDNY) often hears major corporate criminal cases, the position of federal prosecutor has attracted much attention. "I am very optimistic about this technology," Clayton said in an interview with CNBC in 2021. Some cryptocurrency experts praised him as more open-minded than his successor Gary Gensler. However, Clayton lacks prosecutorial experience, and Schumer claimed that the only reason Trump nominated the former regulator to this important position was to advance the president's sinister conspiracy to ultimately pursue and prosecute his political opponents. Trump hit back on Truth Social, praising Clayton's qualifications and experience and accusing Schumer of engaging in partisan politics. (Bitcoin.com)

April 16 saw President Trump join face-to-face tariff negotiations with Japanese officials, marking his direct involvement in discussions that were initially considered preliminary by Tokyo. The talks, attended by Japanese Economic Revitalization Minister Ryosei Akazawa, focused on trade and investment issues, but Trump expanded the agenda to include defense cost-sharing. While foreign exchange issues were excluded, tariffs on Japanese goods, including automobiles and rice, remained a concern. Trump has paused some tariffs for 90 days, but a universal 10% rate and a 25% duty on automobiles are still in effect. The imposition of US tariffs has had a notable impact on Japan’s economy. Last month, Japan’s exports increased for the sixth consecutive month, rising 3.9% year-on-year, although this was below expectations and slower than February’s 11.4% growth. The boost was partly due to companies accelerating shipments ahead of the mentioned tariffs. Exports to the US, Japan’s top market, grew 3.1%, helped by electronics/pharma. Japan seeks the removal of additional tariffs, especially given that the automobile industry makes up 28% of its US exports. Prime Minister Shigeru Ishiba has expressed his commitment to resolving the trade contention, emphasizing Japan’s big investments in the United States and its contributions to US job creation. Despite these efforts, the US administration remains focused on addressing the $68.5 billion trade deficit with Japan and pressing allies on military cost-sharing. Some analysts think the push for quick deals might mean less detailed agreements, especially if the US demands changes to Japan’s agriculture or auto rules. The ongoing trade tensions have led to mixed performances in global stock markets. For instance, European markets opened lower, while US futures saw gains. On the other hand, Japan’s Nikkei 225 index rose 1.4% following positive rhetoric from trade talks between the two countries. US President Donald Trump’s unexpected involvement in trade negotiations with Japan marks a significant development in the ongoing tariff dispute. Initial talks have been described as constructive, and Trump himself wrote on his social media, calling the meeting “big progress” – though there’s no actual indication what that progress is. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Today, the European Central Bank (ECB) implemented its sixth consecutive interest rate cut, reducing key rates by 25 basis points to address the rising economic challenges in the eurozone. This includes lowering the deposit rate to 2.25%, main refinancing operations rate to 2.4%, and marginal lending facility rate to 2.65%. The ECB’s rate cut occurs against a backdrop of escalating global trade tensions, particularly following US President Donald Trump’s announcement of new tariffs on imported goods, including a proposed 20% tariff on European Union products. This was paused for 90 days, but the risk it could still go into effect worries European leaders. ECB President Christine Lagarde highlighted that these developments pose a big risk to Eurozone growth, with the potential to dampen exports, investment, and consumption. She emphasized the “cloud of uncertainty” in the global economic outlook due to these trade barriers. It was reported that the EU officials proposed a ‘zero for zero’ deal to Trump, eliminating industrial goods tariffs, including cars, but he rejected it as insufficient. These talks are crucial as the U.S. is Europe’s top trade partner; about $5 billion in goods/services are exchanged daily. ECB is one of the biggest central banks globally, with its total assets approximated at 7 trillion. Despite inflation easing to 2.2% in March, which is close to the ECB’s 2% target, economic growth remains sluggish, with only a 0.2% expansion in the last quarter of 2024. As such, with the rate cuts, the ECB is likely trying to make borrowing cheaper and encourage spending and investment. This is an attempt to offset the negative impact of trade barriers on the already fragile economic recovery. While the ECB has not committed to a specific rate path, it maintains a data-dependent approach, closely monitoring economic indicators to determine future policy actions. Analysts anticipate that if current trends persist, further rate adjustments may be necessary to support the eurozone economy. In case the current situation continues or even escalates, it won’t be a surprise if a seventh consecutive interest rate cut happens in the future. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.