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The American stock market has just experienced a financial earthquake. In just a few hours, 3.4 trillion dollars vanished, wiping out the post-election gains in one fell swoop. A catastrophic scenario that plunges Wall Street into an unprecedented stupor. And in the crosshairs? Donald Trump, whose new trade tariffs have lit the fuse of a crisis with global repercussions. The S&P 500 plummeted by 2% at the opening, sweeping away like a house of cards the 3.4 trillion amassed since the 2024 election . The indices are flashing blood red on the stock market: the Russell 2000, a barometer of local businesses, has collapsed by 14% since November. Even the tech giants, normally used to turbulence, are faltering. Nvidia is down 24%, and Tesla is crashing by 45%. Has the speculative bubble finally burst? Worse yet, markets now anticipate three interest rate cuts from the Fed this year, up from two previously. Investors, gripped by panic, are fleeing to safe havens: gold, government bonds… and even bitcoin, paradoxically on a rebound . The distrust is palpable. “No one thought Trump would go all the way,” whispers a New York trader. Mistake. The tariffs on Canada and Mexico have turned euphoria into a financial hangover. But the nightmare does not stop at the numbers. Inflation threatens, industrial production is stagnant. Cyclical sectors, such as automotive or energy, are being crushed. Only public services and health are resisting. A reshuffling of the cards that reveals a weakened American economy, far from the promised “America First”. China was quick to retaliate. Beijing is now imposing tariffs on American soybeans, pork, beef, and wheat. A targeted attack, directly aimed at Trump’s rural electoral strongholds. Soybeans, a symbol of past tensions, have dropped to $9.91 per bushel, their lowest since January. Corn is following, plummeting by 3%. “China has diversified its supply. It no longer needs US farmers,” analyzes Hanver Li from Shanghai JC Intelligence. American farmers, already strangled by three years of declining income, fear the worst. The costs of seeds and fertilizers are skyrocketing, and exports to Asia are drying up. In 2020, Trump saved the sector with emergency aid. Today, Brooke Rollins, Secretary of Agriculture, promises $30 billion in subsidies. A band-aid on a wooden leg, according to Dan Basse of AgResource : “Without a new trade agreement, these measures are just a mirage.” And Canada? Ottawa is counterattacking by taxing $107 billion worth of US products, from cheese to candy. Mexico is preparing its response. The result: the American agricultural trade deficit reaches a record $49 billion. A downward spiral, where every protectionist measure exacerbates the imbalances. “This could trigger a much larger economic conflict,” warns Kang Wei Cheang of StoneX. The stock market is navigating uncharted territory. Between flash crashes and a trade war, the 3.4 trillion evaporated might just be a foretaste. Trump, cornered, is gambling everything on an aggressive policy. But at what cost? The markets have already chosen: they vote with their wallets. And for now, the verdict is unequivocal. Mrs panic on the bitcoin has reached a critical threshold.

China is set to reveal its economic targets for 2025, following the rising economic uncertainty supposedly caused by trade war threats from US President Donald Trump. The annual meeting of the National People’s Congress (NPC) will begin on March 5 in Beijing, where Premier Li Qiang will deliver the Government Work Report. According to a Tuesday Bloomberg update, the closely watched document will list the Asian country’s economic goals, including targets for GDP growth, inflation, employment, and the fiscal deficit. Economists expect the Chinese government to focus on strengthening domestic demand, expanding social support measures, and ensuring stability in the labor market. Yet, Beijing’s economic roadmap may soon be overshadowed by a wave of US trade sanctions, with multiple investigations into China’s trade practices set to reach Trump’s desk on April 1. Beijing economic goals predictions for 2025 China’s inflation data, which came out before the NPC meeting, shows that the consumer price index rose from 0.1% in Dec to 0.5% in Jan 2025. This was higher than the 0.4% that the market had expected. Food prices, which had been in decline at the end of 2024, rebounded in January, with pork prices rising 13.8% year-over-year and fresh vegetables seeing a 2.4% increase. Increases in healthcare, education, and housing costs caused non-food commodities to rise. China’s economic policymakers are expected to set a GDP growth target of around 5%, though some analysts anticipate a range of 4.5% to 5%. Inflation targets are also likely to be revised, with economists from Citigroup predicting that the consumer price index (CPI) goal will be lowered from 3% to 2%. Fiscal policy is forecasted to take a more expansionary approach, with HSBC economists forecasting a broad-based fiscal deficit of 9.1% of GDP, an increase that exudes a more aggressive stimulus plan. In the labor market, the government is expected to set a goal of at least 12 million new urban jobs, aligning with the number of college graduates entering the workforce this year. Spending priorities will likely focus on domestic consumption and industrial upgrades. UBS analysts anticipate an expanded trade-in program for consumer goods, increased corporate investment in equipment, and large-scale infrastructure projects. Beijing could consider providing capital injections for banks to facilitate debt restructuring for local government financing vehicles and offering subsidies to families with young children. In turn, pensions for retirees may also see an increase. Per sources familiar with the matter, cited by Bloomberg, these economic targets and policies have been formulated behind closed doors over several months and are largely insulated from external pressures. They will be tested by the potential escalation of US trade tensions in the weeks following the NPC meeting. US trade tensions loom over policy plans China’s policymakers are indeed seeking to stabilize economic growth, but they must also contend with the threat of President Trump’s sanctions. The Trump administration is reportedly working on new trade restrictions to limit China’s technological advancements. The US government wants to introduce tougher semiconductor export controls and efforts to push key US allies, such as Japan and the Netherlands, to tighten restrictions on China’s access to advanced chip-making technology. Recent meetings between Trump officials and their Japanese and Dutch counterparts have explored ways to restrict engineers from Tokyo Electron Ltd. and ASML Holding NV from servicing semiconductor manufacturing equipment in China. The discussions suggest Washington is headstrong on restricting Beijing’s ability to develop its chip industry, efforts that began under the Biden administration. US officials could also consider adding new sanctions on several types of Nvidia chips that can be exported to China without a license. There are also early-stage talks about imposing stricter limits on the number of AI chips that can be shipped globally without the American government’s approval. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

🚨Breaking Meme News: Forget the usual doge and shiba shenanigans, there’s a new hippo in town! 🦛💥 Introducing Moo Deng, the memecoin inspired by a real baby hippo from Bangkok’s Khao Kheow Zoo. Yes, you read that right – a hippo. 🎉 This chunky little creature just gave birth to a $100 million market cap on Solana, and her meme-appeal is skyrocketing faster than you can say "bouncy pork." 🍖 The hippo hype has attracted over 12,400 wallets and $48.5 million in trading volume in the last 24 hours alone. Move over, stewed pork brother Moo Toon and sweet pork sister Moo Waan – Moo Deng’s got the global stage! 🌍 Dreamworks and UFC are now joining the Moo train, proving that hippos can meme with the best of them. 🐱🐶🐱🐶 Nope, it's not all cats and dogs anymore! Disclaimer: The zoo’s still trying to figure out how to trademark their new crypto mascot... but hey, the memecoin ship has already sailed. Get ready for the wildest crypto ride yet! 🚀

China’s retail sales and industrial data miss expectations in August PUBLISHED FRI, SEP 13 202410:00 PM EDT UPDATED 3 HOURS AGO KEY POINTS Retail sales rose by 2.1% in August from a year ago, missing expectations of 2.5% growth among economists polled by Reuters. That was also slower than the 2.7% increase in July. Industrial production rose by 4.5% in August from a year ago, lagging the 4.8% growth forecast by Reuters. That also marked a slowdown from a 5.1% rise in July. Fixed asset investment rose by 3.4% for the January to August period, slower than the forecast of 3.5% growth. Customers buy pork at a shopping mall in Hangzhou, China, on September 9, 2024. On the same day, data released by the National Bureau of Statistics shows that in August 2024, the national consumer price rises by 0.6% year-on-year. (Photo by Costfoto/NurPhoto via Getty Images) Pictured here is a shopping mall in Hangzhou, China, on Sept. 9, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China’s retail sales, industrial production and urban investment in August all grew slower than expected, according to National Bureau of Statistics data released Saturday. Retail sales rose by 2.1% in August from a year ago, missing expectations of 2.5% growth among economists polled by Reuters. That was also slower than the 2.7% increase in July. Online sales of physical goods rose by just under 1% in August from a year ago, according to CNBC calculations of official data. Industrial production rose by 4.5% in August from a year ago, lagging the 4.8% growth forecast by Reuters. That also marked a slowdown from a 5.1% rise in July. Despite the miss, industrial production still grew faster than retail sales, “reflecting the structural imbalance imbedded in China’s economy, with stronger supply and weaker demand,” said Darius Tang, associate director, corporates, at Fitch Bohua. The firm expects the Chinese government will likely announce more, gradual stimulus in the fourth quarter to support consumption and real estate, Tang said. China policymakers' key challenge is presenting measures in a 'coordinated' way: China’s challenge is to present measures in coordinated way: Strategist Fixed asset investment rose by 3.4% for the January to August period, slower than the forecast of 3.5% growth. The urban unemployment rate was 5.3% in August, an uptick from 5.2% in July. Among fixed asset investment, infrastructure and manufacturing slowed in growth on a year-to-date basis in August, compared to July. Investment in real estate fell by 10.2% for the year through August, the same pace of decline as of July. National Bureau of Statistics spokesperson Liu Aihua attributed the uptick in unemployment to the impact of graduation season. But she said that stabilizing employment requires more work. This year, the statistics bureau has been releasing the unemployment rate for people ages 16 to 24 who aren’t in school a few days after the wider jobless release. The youth unemployment rate in July was 17.1%. “We should be aware that the adverse impacts arising from the changes in the external environment are increasing,” the bureau said in an English-language statement. A “sustained economic recovery is still confronted with multiple difficulties and challenges.” This weekend, Saturday is a working day in China in exchange for a holiday on Monday. The country is set to celebrate the Mid-Autumn Festival, also known as the Mooncake Festival, from Sunday to Tuesday. The next and final major public holiday in China this year falls in early October. BofA: China’s role as the key growth driver for oil demand is ‘dying out’ Growth in the world’s second-largest economy has slowed after a disappointing recovery from Covid-19 lockdowns. Policymakers have yet to announce large-scale stimulus, while acknowledging that domestic demand is insufficient. Other data released in the last week has underscored persistent weakness in consumption. Imports rose by just 0.5% in August from a year ago, customs data showed, missing expectations. Exports rose by 8.7%, beating expectations. Beijing’s consumer price index for August also disappointed analysts’ expectations with an increase of 0.6% from a year ago.

CHINA ECONOMY China’s retail sales and industrial data miss expectations in August PUBLISHED FRI, SEP 13 202410:00 PM EDT UPDATED 3 HOURS AGO KEY POINTS Retail sales rose by 2.1% in August from a year ago, missing expectations of 2.5% growth among economists polled by Reuters. That was also slower than the 2.7% increase in July. Industrial production rose by 4.5% in August from a year ago, lagging the 4.8% growth forecast by Reuters. That also marked a slowdown from a 5.1% rise in July. Fixed asset investment rose by 3.4% for the January to August period, slower than the forecast of 3.5% growth. Customers buy pork at a shopping mall in Hangzhou, China, on September 9, 2024. On the same day, data released by the National Bureau of Statistics shows that in August 2024, the national consumer price rises by 0.6% year-on-year. (Photo by Costfoto/NurPhoto via Getty Images) Pictured here is a shopping mall in Hangzhou, China, on Sept. 9, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China’s retail sales, industrial production and urban investment in August all grew slower than expected, according to National Bureau of Statistics data released Saturday. Retail sales rose by 2.1% in August from a year ago, missing expectations of 2.5% growth among economists polled by Reuters. That was also slower than the 2.7% increase in July. Online sales of physical goods rose by just under 1% in August from a year ago, according to CNBC calculations of official data. Industrial production rose by 4.5% in August from a year ago, lagging the 4.8% growth forecast by Reuters. That also marked a slowdown from a 5.1% rise in July. Despite the miss, industrial production still grew faster than retail sales, “reflecting the structural imbalance imbedded in China’s economy, with stronger supply and weaker demand,” said Darius Tang, associate director, corporates, at Fitch Bohua. The firm expects the Chinese government will likely announce more, gradual stimulus in the fourth quarter to support consumption and real estate, Tang said. China policymakers' key challenge is presenting measures in a 'coordinated' way: China’s challenge is to present measures in coordinated way: Strategist Fixed asset investment rose by 3.4% for the January to August period, slower than the forecast of 3.5% growth. The urban unemployment rate was 5.3% in August, an uptick from 5.2% in July. Among fixed asset investment, infrastructure and manufacturing slowed in growth on a year-to-date basis in August, compared to July. Investment in real estate fell by 10.2% for the year through August, the same pace of decline as of July. National Bureau of Statistics spokesperson Liu Aihua attributed the uptick in unemployment to the impact of graduation season. But she said that stabilizing employment requires more work. This year, the statistics bureau has been releasing the unemployment rate for people ages 16 to 24 who aren’t in school a few days after the wider jobless release. The youth unemployment rate in July was 17.1%. “We should be aware that the adverse impacts arising from the changes in the external environment are increasing,” the bureau said in an English-language statement. A “sustained economic recovery is still confronted with multiple difficulties and challenges.” This weekend, Saturday is a working day in China in exchange for a holiday on Monday. The country is set to celebrate the Mid-Autumn Festival, also known as the Mooncake Festival, from Sunday to Tuesday. The next and final major public holiday in China this year falls in early October. BofA: China’s role as the key growth driver for oil demand is ‘dying out’ Growth in the world’s second-largest economy has slowed after a disappointing recovery from Covid-19 lockdowns. Policymakers have yet to announce large-scale stimulus, while acknowledging that domestic demand is insufficient. Other data released in the last week has underscored persistent weakness in consumption. Imports rose by just 0.5% in August from a year ago, customs data showed, missing expectations. Exports rose by 8.7%, beating expectations. Beijing’s consumer price index for August also disappointed analysts’ expectations with an increase of 0.6% from a year ago.