Markets entered the week gripped by uncertainty, following a brutal stretch of tariff-driven volatility that erased trillions in global market value. With President Trump’s first wave of tariffs officially in effect and more set to kick in on April 9, investors are bracing for a stormy week filled with political risks, economic data, and corporate earnings.
Here’s a breakdown of the five major market themes to watch:
President Trump’s sweeping tariffs—10% on all imports with higher rates for China, South Korea, Japan, and others—have jolted markets and heightened fears of a global recession. China's retaliatory tariffs, the European Union's warning of defensive measures, and uncertain negotiations with dozens of countries have deepened volatility.
The S&P 500 tumbled more than 10% last week, marking its worst weekly performance since 2020, while the Hang Seng and CSI300 indexes plunged on Monday.
Brock Weimer of Edward Jones noted, “Tariffs pose a headwind to Canadian and U.S. economic growth… However, both economies entered 2025 with strong momentum.”
Markets will be watching for signs of de-escalation, but sentiment remains fragile.
Adding to the unease is President Trump’s continued defense of his tariff strategy on Truth Social. While he claimed some foreign leaders want deals, he also attacked China’s retaliatory actions and insisted his approach will not change.
With uncertainty over whether tariffs are a negotiating tactic or a long-term policy shift, traders will monitor Trump’s feed for any further escalation or deal-making hints.
This week also marks the unofficial start of Q1 earnings season, with major reports from:
BlackRock (BLK)
JPMorgan Chase (JPM)
Morgan Stanley (MS)
Wells Fargo (WFC)
Plus key early reports from Levi Strauss (LEVI), Walgreens Boots Alliance (WBA), and Delta Air Lines (DAL)
While earnings may provide pockets of optimism, analysts warn that escalating trade tensions may overshadow even positive results.
To track market sentiment and earnings-related momentum shifts, leverage the Technical Indicator API which offers insights into RSI, MACD, moving averages, and more—helpful in volatile weeks like this.
Amid rising cost pressures from tariffs, the March CPI print could shape Fed rate expectations.
Barclays expects the report to be “benign,” but warns that “Liberation Day” tariffs could push inflation much higher in the coming months, making Thursday’s data a crucial read for monetary policy direction.
Sticky inflation could make it harder for the Fed to cut rates, even as growth slows.
President Trump extended the deadline for ByteDance to divest TikTok’s U.S. operations by 75 days, pushing the cutoff into mid-June. The deal remains entangled in national security concerns and broader U.S.-China trade dynamics.
Companies like Amazon (AMZN), Oracle (ORCL), and Applovin (APP) have shown interest. Any update could swing markets, especially tech-heavy indices already under pressure.
With no clear resolution in sight on tariffs and major macroeconomic data looming, this week could see continued volatility. Traders should brace for rapid moves and look beyond headline numbers to read the deeper currents shaping markets.
For real-time indicators to gauge momentum and technical reversals during these turbulent days, explore the Technical Indicator API from Financial Modeling Prep.
