BREAKING: The Magnificent 7 Index is now down over -30% from its all time high seen on December 18th. While the S&P 500 is down -7.5% year-to-date, most investors are down much more. Large cap tech is beyond bear market territory. https://x.com/KobeissiLetter/status/1907928096164184560
GOVERNMENTS WORLDWIDE VOWED COUNTERMEASURES AFTER TRUMP IMPOSED NEW TARIFFS:
EU – Preparing retaliatory measures if talks fail.
China – Firmly opposes tariffs, will respond.
Japan – Calls tariffs "regrettable," seeks exemption, promises swift action.
Germany – Calls for EU pressure on Trump.
South Korea – Orders emergency support for affected industries.
Canada – Vows strong countermeasures, some exemptions remain.
Mexico – Rejects tit-for-tat tariffs, plans a broader response.
UK – Seeks a trade deal but keeps options open.
Australia – Will negotiate, avoids countertariffs to prevent price hikes
Brazil – Evaluating responses, may go to WTO.
Israel – Planning measures to counter 17% tariffs.
France in particular is keen on the nuclear option of imposing a digital tax on US mega techs.
...Canada has showed the way on how to stand up against Trump.
...If you allow Trump to steamroll over you, he won't blink, but if you threaten him (like say a digital tax on the mega techs), it would likely bring him to the table to reach a more conciliatory outcome.
...how do you deal with a bully? Not by getting steamrolled over, but by standing up in a smart and measured way.
