Tesla inventory opened the week with a purple candle, falling to $315.35, a 0.095% dip that lined up with a broader selloff throughout US equities and metals.
The drop hit as Bitcoin blew by resistance and ended the June 29 week with its highest weekly shut ever. The motion break up danger markets in two. Shares went down, crypto went up.
As per typical, the set off got here straight out of Washington after President Donald Trump confirmed on Sunday that new tariffs will start August 1, not July 9 as markets had priced in.
The information despatched US inventory futures right into a tailspin Sunday evening. The Dow Jones Industrial Common dropped 146 factors, down 0.32%. S&P 500 futures misplaced 0.39% and Nasdaq 100 futures fell 0.42%. Trump didn’t make the announcement alone.
Standing beside him was Commerce Secretary Howard Lutnick, who advised reporters, “Tariffs go into impact Aug. 1. However the president is setting the charges, and the offers, proper now.” Trump nodded in settlement, ending the market’s weekend hopes. The replace got here after days of guessing by buyers and left Wall Road hanging simply as they had been coming off a robust week.
Bitcoin makes historical past as ETF inflows construct
Bitcoin managed to remain above $108,500 earlier than closing Sunday at over $109,000, based on information from CoinGecko. Over the previous month, practically 50,000 BTC moved into US spot ETFs, signaling sturdy institutional demand.
Primarily based on their flow-to-price mannequin, the subsequent main goal sits at $117,000. That mannequin has tracked carefully with worth motion in earlier cycles, particularly throughout aggressive ETF accumulation. Market analysts are calling it “whale video games,” as massive consumers quietly accumulate whereas retail watches from the sidelines.
Whereas Bitcoin moved up, metals moved down. Gold, which had gained nearly 2% final week, gave again floor and hovered round $3,325 per ounce on Monday. It’s nonetheless up over 25% in 2025 and is sitting just below $170 shy of its April document.
ETF inflows and central financial institution demand have saved gold up this 12 months, however short-term merchants pulled again after the White Home announcement.
S&P 500 loses steam after tariff delay creates confusion
Treasury Secretary Scott Bessent confirmed the brand new tariff date throughout an look on CNN’s “State of the Union” earlier Sunday. “If there’s no deal, tariffs return to April 2 ranges on August 1,” he mentioned. That announcement set expectations that main duties may return except a breakthrough is made in commerce talks. Most buyers had deliberate round tariffs beginning this week. That now seems to be incorrect.
The unique 90-day pause from April’s “reciprocal” tariffs was set to run out Tuesday, with an EU settlement deadline hitting Wednesday. If no deal is struck with the European Union, tariffs as much as 50% on EU items are anticipated.
Final week’s inventory rally got here from the idea that Trump wouldn’t truly observe by with essentially the most excessive tariff threats. That optimism collapsed. Nonetheless, some merchants are holding out hope. They consider US corporations will beat weak earnings expectations if they will present they’re able to deal with tariffs.
The US Greenback Index dipped barely to 96.90, whereas China’s Renminbi fell 0.07% to 7.1656. The Japanese Yen additionally slipped to 0.0069, with a minor transfer of +0.0000090. Different currencies, together with the euro, pound, and ruble, are additionally buying and selling slightly below impartial.
Silver, in contrast to gold, ripped to $37.225, the best worth seen in practically 14 years. That spike stood out in a market dominated by promoting stress.
