China says it will continue to take ‘resolute and forceful’ countermeasures as U.S. tariffs kick in

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⚠️ China says it will continue to take ‘resolute and forceful’ countermeasures as U.S. tariffs kick in: China’s foreign ministry reiterated Wednesday that Beijing will take “resolute and forceful” measures to protect its own interests, after net total tariffs of 104% on Chinese imports into the U.S. took effect. CNBC reports.

📊 Traders seek elusive market bottom as tariffs hammer S&P 500: Traders are looking for a US stock-market bottom after the biggest four-day rout in five years, but key technical indicators suggest more pain is ahead. Yahoo Finance reports.

🧾 A diminished ‘Magnificent 7’ tests Big Tech’s role in the market: Even before the stock market strapped into the tariff roller coaster, Big Tech was on a bumpy ride. The start of the year coincided with an unwinding of the AI trade. Yahoo Finance reports.

✈️ Delta CEO says Trump tariffs are hurting bookings as airline pulls 2025 forecast: Delta Air Lines won’t expand flying in the second half of the year because of disappointing bookings amid President Donald Trump’s shifting trade policies, which CEO Ed Bastian called “the wrong approach.” CNBC reports.

🚗 Auto giants extend losses as Trump’s sweeping global tariffs take effect: Europe’s auto giants slipped on Wednesday, extending recent losses as U.S. President Donald Trump’s sweeping tariffs on dozens of countries came into effect — including a whopping 104% levy on China. CNBC reports.

🛍️ Alibaba stock plunges 32% since March peak as US-China trade tensions escalate amid Trump tariff moves: Alibaba Group Holding shares have plummeted 32.50% since mid-March as escalating trade tensions between the U.S. and China threaten to derail the e-commerce giant’s international business model. Benzinga reports.

👑 Apple’s 4-day slide puts Microsoft back on top as most valuable company: Apple’s 23% plunge over the past four trading sessions has again turned Microsoft into the world’s most valuable public company. As of Tuesday’s close, Microsoft is worth $2.64 trillion, while Apple’s market cap stands at $2.59 trillion. CNBC reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $VERO: Venus Concept
Total gain: +272.94%

2) $WORX: SCWorx
Total gain: +84.67%

3) $FMTO: Femto Technologies
Total gain: +50.53%

4) $SGN: Signing Day Sports
Total gain: +35.87%

5) $TNMG: TNL Mediagene
Total gain: +33.37%

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

TBBB: BBB Foods
4Q 2024
After Market Close
Estimate: 0.040
Actual: N/A

STZ: Constellation Brands
4Q 2025
After Market Close
Estimate: 2.490
Actual: N/A

PSMT: Pricesmart
2Q 2025
After Market Close
Estimate: 1.410
Actual: N/A

Time (ET) / Report / Period

10:00 am - Wholesale inventories - February
11:00 am - Richmond Fed President Tom Barkin speaks
2:00 pm - Minutes of Fed's March FOMC meeting

“The market’s volatility is a friend to the disciplined investor, offering opportunities where others see only risk.”
- Howard Marks

Sourced in:
"The Most Important Thing: Uncommon Sense for the Thoughtful Investor", by Howard Marks,
published in 2011