The Nvidia panic, America's Bitcoin Reserve, and Trump's trade war hits stocks: Markets news roundup

The Nasdaq and other stock market indexes began Monday morning by dropping sharply in the face of President Donald Trump’s new tariffs, which are poised to kick in Tuesday. The market decline reversed somewhat in the afternoon after Mexican President Claudia Sheinbaum announced a pause on Trump’s new import tariffs. 

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The Trump administration is actively pursuing initiatives related to cryptocurrency, but there has not been any official announcement regarding the highly anticipated Bitcoin reserve. David Sacks, the White House’s cryptocurrency director and President Donald Trump’s crypto czar, held a press conference to discuss the U.S. digital asset strategy. However, he did not reveal any specific plans for stockpiling Bitcoin, instead stating that the team would evaluate the feasibility of a Bitcoin reserve.

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With rising prices, an affordable housing crisis, and the specter of looming tariffs, Americans are looking to save money just about everywhere.

And with nine in 10 American households owning at least one car, many are looking at their vehicles as a place to save.

Self, a credit-building toolkit, looked at the 50 best-selling cars between 2022 and 2024 and ran the numbers to find the most and least expensive ones to run. It didn’t consider the vehicle’s purchase or lease price and instead looked at average annual gas costs, maintenance, insurance, fees, and taxes.

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The Nasdaq and other major stock market indexes dipped Wednesday after underwhelming earnings reports from Google parent Alphabet (GOOGL) and chipmaker Advanced Micro Devices (AMD). Other tech stocks such as Apple (AAPL), Amazon (AMZN), and Tesla (TSLA) were also in the red.

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DeepSeek sparked a global tech stock sell-off that cost Nvidia $600 billion in market value. But JPMorgan (JPM) Chase says the AI chipmaker is bound to benefit from the Chinese startup.

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The average U.S. family is currently shelling out at least $2,000 a year on utilities. That’s on top of the average $2,450 most people spend annually on gas.

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President Donald Trump has begun a new trade war with Canada, Mexico, and potentially China, and this has had a significant ripple effect on the broader financial landscape, including the cryptocurrency market. Trump’s latest move involves imposing a 25% tariff on imports from Canada and Mexico, while Chinese imports will be taxed at 10%. 

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Eric Beiley of The Beiley Group at Steward Partners breaks down how a sovereign wealth fund might work for America like they do in Singapore and Norway

Eric Beiley, Executive Managing Director of The Beiley Group at Steward Partners, breaks down what China’s retaliatory tariffs could mean for investors