Crypto and stock markets react to scheduled US-China trade talks
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Stock and crypto markets showed signs of cautious optimism late Tuesday after reports confirmed that senior US officials are scheduled to meet with their Chinese counterparts later this week in Switzerland. The S&P 500 index shed 0.77% in Wednesday’s pre-market session, while the global crypto market cap recorded a 1.26% increase in the last 24 hours to cross $3 trillion. According to the Wall Street Journal, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are set to hold discussions with China’s top economic official on Thursday. News of the talks, expected to take place in Zurich, started a rally in stock-index futures overnight, correcting two consecutive days of market declines. Stock futures rebound after consecutive market losses Following the announcement of the US-China planned meeting, S&P 500 futures climbed approximately 0.8%, while Dow Jones Industrial Average futures rose 196 points, or 0.42%. Nasdaq 100 futures advanced by 0.48%. The rebound comes after Tuesday’s regular session saw losses across all major US indexes. The Dow had dropped nearly 400 points, or 0.9%, while the S&P 500 slid by 0.8%. The Nasdaq Composite fell 0.9%, pulled lower by a selloff in Palantir shares that saw disappointing earnings. Investor sentiment had already been rattled by macroeconomic concerns and a lack of progress on trade deals. Earlier in the day, Canadian Prime Minister Mark Carney met with President Donald Trump at the White House. Carney pushed back against provocative comments from the US president asking Canada to be absorbed as the 51st US state, saying his country “isn’t for sale.” On the digital asset side, the altcoin market cap broke out of a prolonged falling wedge pattern, but faces headwinds at the 21-day and 50-day moving averages, acting as resistance levels. #ALTS MARKET CAP ANALYSIS The ALTS market cap has broken out…
