Source: Barron Chinese

The arrival of new tariffs is so fast that it is weakening people's hope that Trump only uses tariffs as a negotiation tool.

Last week, the U.S. stock market encountered the impact of DeepSeek chatbots, financial reports of large tech companies and Fed interest rate meetings, and the tariff threat came when the stock market seemed to have passed these storms safely.

The S&P 500 fell 1% last week, not particularly large, but the AI ​​theme and NVDA stocks - one of the key drivers of U.S. stocks - have suffered severe impacts It should still be attracted by investors.

The plunge in the stock market last Monday (January 27) reflected such anxiety: If DeepSeek can really match ChatGPT, then artificial intelligence The price may be much lower than previously expected. This is a potential boon for users, but a blow to the big tech stocks that have invested billions of dollars in their projects, and a blow to the idea that US AI is ahead of the rest of the world.

This is a huge shift, although how much it will bring remains to be seen. Wedbush analyst Dan Ives wrote in the research report, "Technology investors believe that Deepseek will greatly change the US $ 2 trillion artificial intelligence expenditure in the next three years, and we are still shocked to them will be shocked to them who know There was such an idea. ”

Investors' focus then almost immediately turned to the financial reports of Meta Platforms (META), Tesla (TSLA), Apple (AAPL) and Microsoft (MSFT). They tried their best to appease the market, the first three companies succeeded, and the last one failed. Overall, however, the remarks made by tech company management have brought some comfort to investors, and many people have even seen the positive side.

While investors are concerned about Silicon Valley’s dominance in AI, the S&P 500 was basically flat as of last Thursday’s closing: the index did not fall again to the lows hit last Monday, with 333 Constituent stocks rose, while 169 constituent stocks fell. “Short-term width remains stable is a sign of strong stock markets,” said Ed Clissold, strategist at Ned Davis Research.

Similarly, Sevens Report President Tom Essaye pointed out that the economic data performed well. He wrote in his research report, "The GDP data in the fourth quarter was slightly weak, but not particularly weak, consumer spending was still strong, and the US economy was basically in a 'blond girl' state." The Fed, in a wait-and-see state, ended the period The announcement of keeping interest rates unchanged after two days of meeting did not have much impact on the stock market.

However, Washington, DC is not calm, and whether the stock market can rebound continuously has never been a certain thing. Last Friday, U.S. President Trump reiterated that he would impose 25% tariffs on Mexico and Canada, and a pleasant rebound turned into a decline.

From February 4, the United States will impose a 25% tariff on goods imported from Mexico and Canada, a 10% tariff on energy products imported from Canada, and an additional 10% tariff on energy products imported from Canada.

The arrival of new tariffs so quickly seems to be undermining hopes that Trump will largely use tariffs as a negotiation tool. New U.S. tariffs have triggered other counter-threat threats, and Trump also said he would impose tariffs on goods imported from the EU.

Inga Fechner, an economist at the Netherlands International Group, wrote in a research report that "almost half of the goods imported by the United States will be affected by higher tariffs," said Inga Fechner, an economist at the Netherlands International Group. It may disrupt supply chains and seriously affect the economies of the United States, Canada and Mexico. Industry sectors such as the automotive and manufacturing industry that are deeply integrated with the U.S. supply chain will face rising costs and supply disruptions. ”

Capito Macro "U.S. trade has once again dominated the headlines, and this matter will not stop there."

Maybe the time for investors to leave temporarily.