According to BlockBeats, U.S. stock indices experienced significant fluctuations last week due to U.S. President Donald Trump's tariff policies, ultimately closing lower. The Dow Jones Industrial Average fell approximately 3.1%, marking its worst weekly performance since March 2023. The S&P 500 and Nasdaq also declined by 2.27% and 2.43%, respectively, marking their fourth consecutive week of losses. Among major tech stocks, only Nvidia saw a rebound, rising nearly 8%, while others ended the week lower.
In the cryptocurrency market, Bitcoin experienced volatility, dropping to a recent low on Tuesday before rebounding to fluctuate around $83,000. On Friday, U.S. stock market gains helped Bitcoin surpass $85,000, but the momentum did not continue over the weekend due to liquidity issues, with Bitcoin priced at $83,144 at the time of reporting, reflecting a nearly 1.5% increase over the past seven days. Other major tokens saw modest gains, with Ethereum striving to maintain above $1,900, and BNB rising nearly 10% over the past week, buoyed by a $2 billion investment from Abu Dhabi and a revival in on-chain meme activity.
In the foreign exchange and commodities markets, the U.S. dollar index fell by about 0.1% last week. The oil market rebounded on Friday, reversing a weekly decline, with U.S. oil marking its first weekly gain in nearly two months. The trade war concerns spurred a rush for safe-haven assets, with spot gold reaching a record high of $3,004.94 on Friday, surpassing the $3,000 psychological threshold for the first time, and gaining 2.65% over the week.
U.S. inflation data for February, including the Consumer Price Index (CPI) and Producer Price Index (PPI), came in below expectations, easing concerns about economic stagflation. However, the latest University of Michigan consumer sentiment index hit its lowest level in nearly three years, indicating extreme pessimism about the economic outlook among consumers. This week marks a 'super central bank week,' with over 20 central banks set to announce their latest policy rates, with particular attention on the Federal Reserve and the Bank of Japan, as markets expect both to maintain their current rates.
