Checking Your 401(EKG)

For a few hours this morning, the stock market was soaring on the perception that trade deals could be made quickly. That rebound has lost its steam at the moment (in part because of more threats of increased tariffs). But volatility is the name of the game when no one understands the logic behind the moves being made.

+ “The trade war between the world’s two biggest economies shows no signs of slowing down – Beijing has vowed to ‘fight to the end‘ hours after US President Donald Trump threatened to nearly double the tariffs on China.” (Meanwhile, Apple’s stock has fallen so far so fast that Tim Cook might need a refund on his $1m inauguration check to cover living expenses.)

+ Beijing calls Vance ‘ignorant’ over ‘Chinese peasants’ remark. (Maybe calling Vance ignorant is a way to find some common ground.)

+ WSJ (Gift Article): Howard Lutnick’s Strategy Flummoxes Business Leaders and White House Aides. “Some executives have come away from meetings with the commerce secretary confused and exasperated.” (Confused and exasperated is how I feel on a good day.)

+ In other destabilizing financial news: Trump admin tells prosecutors to ease up on crypto enforcement. (And you can bet your bottom memecoin why…)