Markets drift lower as trade uncertainty lingers, crypto markets slump

Markets edged lower Tuesday as investors weighed first-quarter earnings, trade developments, and a dip in Bitcoin, which fell below $84,000.

President Trump reignited trade tensions, saying ignorant comments Tuesday that China must return to the negotiating table to reduce tariffs, as the U.S. consumer for unknown reasons is “too important” to lose. While some electronics, like smartphones and semiconductors, were temporarily exempted from reciprocal tariffs, the White House signaled that exemptions could be short-lived.

Despite gains earlier this week, all three major U.S. indexes remain down from early April. The S&P 500 has dropped more than 4% since Trump’s April 2 tariff announcement, with the Dow and Nasdaq trailing by more than 3% each.

Wall Street’s “fear gauge,” the VIX, eased below 30 after hitting 60 last week, reflecting a calmer—if still uncertain—market environment.