GuShiio.com ① Trump issued a document encouraging American farmers to produce and sell agricultural products;
② Canada reiterated that it is ready for a series of retaliatory measures;
③ OPEC + will continue to advance the April oil production increase plan;
④ The increase in the panic index VIX expanded to 20%, setting a new high since December 20 last year.
Overnight stock market
On Monday, the three major U.S. stock indexes closed down collectively, with the Dow down 1.48%, the Nasdaq down 2.64%, and the S & P 500 down 1.76%. Large technology stocks generally fell. NVIDIA fell more than 8%, Broadcom fell more than 6%, Amazon fell more than 3%.
Most popular Chinese stocks closed down, with the Nasdaq China Golden Dragon Index down 2.98%. Wenyuan Zhixing fell more than 11%, Ideal Cars fell more than 10%, Weilai and Jinshan Cloud fell more than 8%, Jikrypton fell more than 6%, Xiaopeng Automobile fell more than 5%, and Jingdong fell nearly 4%.
The panic index VIX surged 16%, hitting a new high since December 20 last year. Tariff plans for Canada and Mexico will take effect on Tuesday. Hours before the deadline, Trump completely dashed investors ‘hopes for a last-minute exemption, telling reporters: “There is no room for negotiation.”
Major European stock indexes closed generally higher, with Germany’s DAX30 index rising 2.64%, setting a record closing high. Britain’s FTSE 100 index rising 0.7%, France’s CAC40 index rising 1.09%, and Europe’s Stoxx 50 index rising 1.41%.
commodity market
The settlement price of WTI crude oil futures fell 1.99% to US$68.37/barrel. Brent crude oil futures settled down 1.63% to US$71.62/barrel.
COMEX gold futures closed up 1.95% at US$2,904.1 per ounce;COMEX silver futures closed up 2.44% at US$32.265 per ounce.
market news
[Trump issued an article encouraging American farmers to produce and sell agricultural products]
U.S. President Trump posted on social media telling U.S. farmers to be ready to start producing large quantities of agricultural products and later sell them in the United States. Trump said that relevant tariffs will be imposed on external products on April 2. On February 26, local time, Trump said at a cabinet meeting that the United States would impose a 25% tariff on goods imported from Mexico and non-energy goods imported from Canada starting from April 2.
[The United States is about to impose additional tariffs, Canada reiterates that it is ready for a series of retaliatory measures]
After U.S. President Trump confirmed on March 3 local time that tariffs would be imposed on Canada and Mexico on the 4th, Canadian Foreign Minister Jolly said that Canada is ready for a series of retaliatory measures that can be retaliated immediately. Jolly said that Canada had previously announced that it was ready to impose retaliatory tariffs on U.S. goods worth 155 billion Canadian dollars. The first retaliatory tariffs will involve $30 billion worth of U.S. products. She said U.S. tariffs are an existential threat to Canada. Thousands of jobs in Canada are at risk. If the United States decides to launch a trade war, Canada is ready. It is reported that she will meet with other cabinet members late that day to discuss the country’s next move in the face of the possibility of economic collapse.
[Canadian official: If the United States imposes tariffs, electricity exports to the United States will be reduced]
Canada’s Ontario Governor Ford responded to the U.S. tariff threat and said that if the United States imposes additional tariffs, Ontario will cut electricity exports to U.S. border states. He said,”They rely on our energy and they need to feel the pain. They want to launch a fierce attack on us, and we will double our counterattack.” It is reported that the United States is a major customer of Canadian electricity. Except for Texas, all U.S. power grids are interconnected to Canadian provinces. New York, Michigan and Minnesota are the top three customers of Ontario Power. In addition, Ford also said that Ontario’s minerals are also key to the tariff fight. He said he would stop exporting nickel to the United States.
[Oil pipeline in Russia’s Tov Oblast was attacked and caught fire]
Yuri Slyusari, acting governor of Russia’s Rostov Oblast, said that a large-scale drone attack on the Chertkovsky district of Rostov Oblast caused a fire on the oil pipeline. Duty personnel from the Ministry of Emergency Situations have arrived at the scene. All personnel were evacuated. Slyusari said that according to preliminary information, there were no casualties.
[The White House is developing a plan that may ease sanctions against Russia]
A U.S. official and a person familiar with the matter said that the United States is developing a plan to potentially ease sanctions on Russia as President Trump seeks to restore relations with Russia and end the conflict between Russia and Ukraine. People familiar with the matter said the White House has asked the State Department and Treasury Departments to draw up a list of possible sanctions mitigations for U.S. officials to discuss with Russian representatives in the coming days as part of the administration’s broader talks with Russia on improving diplomatic and economic relations.
[OPEC + will continue to advance the April oil production increase plan]
OPEC representatives said that OPEC + will continue to advance the April oil production increase plan. OPEC + will continue its plan to increase production by 138,000 barrels per day in April. This will be the first increase in a series of monthly increases to resume production that has been suspended for more than two years. Production will gradually return to 2.2 million barrels per day by 2026. Crude oil traders had generally expected OPEC + to delay production increases again, and OPEC + has postponed three times since it was first announced in June last year.
[OpenAI competitor Anthropic raises US$3.5 billion, valuation rises to US$61.5 billion]
On Monday local time, OpenAI competitor Anthropic said it had officially completed a deal to raise $3.5 billion at a valuation of $61.5 billion, consolidating its position as one of the world’s largest start-ups. It is reported that this round of US$3.5 billion in financing was led by venture capital firm Lightspeed venture Partners, with a contribution of US$1 billion. Krishna Rao, chief financial officer of Anthropic, said the latest investment “will drive us to develop smarter and more capable artificial intelligence systems that expand the range of human capabilities” and that “continued progress in all aspects of model training drives a breakthrough in intelligence and expertise.”
[Is there a chance for Intel’s counterattack? It is said that Nvidia and Broadcom have begun testing the 18A process]
Two people familiar with the matter revealed that Nvidia and Broadcom are conducting manufacturing tests with Intel. In addition, AMD is also evaluating whether Intel’s 18A manufacturing process is suitable for its needs, but it is unclear whether testing has been carried out. Media analysts said that if this news is true, it means that chip giants are determining whether to hand over the manufacturing contract to Intel, which is expected to bring unexpected income and technical endorsement to Intel and its 18A process, and re-compete with TSMC, the dominant player in this field. Reports say testing is ongoing and may have lasted for months. The report also mentioned that these tests were not conducted for complete chip designs, but to determine the performance and capabilities of Intel’s 18A process. Therefore, there is no guarantee that Intel will eventually win new business.
[TSMC announced plans to invest an additional US$100 billion to expand U.S. chip production]
Chip foundry giant TSMC plans to invest an additional US$100 billion in U.S. factories to increase its chip production capacity in the United States and support President Trump’s goal of strengthening domestic manufacturing. TSMC CEO Wei Zhejia announced with Trump at the White House on Monday the company’s vision to expand its U.S. business footprint, which began in 2020, during Trump’s first term. Trump said the move meant that “the world’s most powerful artificial intelligence chips will be manufactured in the United States.”
