On the eve of tariff announcement, US stocks and cryptocurrency markets rebounded, as the market awaits clear policy

On April 2, as Trump's "reciprocal tariffs" approached, market sentiment underwent repeated tests before ultimately betting that a clear trade policy would help stabilize the market. The three major U.S. stock indices experienced significant intraday volatility and ended mixed: the Dow Jones edged down 0.03%, the S&P 500 rose 0.38%, and the Nasdaq gained 0.87%. Large-cap tech stocks broadly advanced, with Tesla surging over 3%.

The cryptocurrency market also moved higher. Bitcoin initially dropped toward $82,000, weighed down by an early sell-off in tech stocks, but rebounded alongside equities, reaching a high of $85,579. It is now testing the $85,000 resistance level, up 2.36% in 24 hours. Other major tokens also saw gains, with Ethereum pushing toward the $2,000 mark. However, confidence in meme coins took a hit after a series of meme tokens on the BNB Chain crashed overnight.

The late-session stabilization in U.S. stocks ahead of the tariff deadline suggests that markets believe Trump will not insist on policies that could severely hamper economic growth. Investors are hoping that a clear trade policy will bring stability. All eyes are now on tonight’s tariff announcement, as markets seek clarity on the policy direction, the extent of tariff increases, and whether these measures could further worsen the economic outlook.