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Tariffs continue to be in focus during today’s trading session, as Walmart and Home Depot shared differing views on their impact. U.S. markets are still assessing the effect of tariffs on consumers. On Tuesday, May 20, the Dow Jones was trading at 42,679.23, down 112.84 points or 0.26%. The S&P 500 was at 5,942.07, down 0.36%, while the Nasdaq stood at 21,353, down 0.44%. Just days after Walmart announced potential price hikes due to U.S. tariffs, Home Depot offered a different perspective. In its first-quarter 2025 earnings report, the home improvement giant stated that it plans to keep prices steady. Rather than raising prices, the company has opted to shift production away from China, which currently faces an effective tariff rate of 30%. Still, Home Depot’s announcement may not be enough to lift sentiment. Wall Street analysts continue to warn about the broader economic impact of the recently resumed collection of student loans. The Department of Education under Donald Trump has resumed collections on student loans that had been paused for five years. This applies to borrowers in default, who may now face wage garnishment. Notably, JPMorgan estimated that renewed collections could reduce disposable personal income somewhere between $3.1 billion and $8.5 billion. Bank of America’s analyst Mihir Bhatia noted that low-end consumers will particularly feel the weight of this new policy. Against this backdrop, May’s preliminary consumer sentiment index has dropped to the second-lowest level on record. The index, which measures consumers’ willingness to spend, fell to 50.8 — the lowest reading aside from June 2022. Still, despite bad news for Wall Street and Main Street, Bitcoin (BTC) is resilient, trading at $106,323 and up 0.98% in the last 24 hours. Gold showed even stronger performance, up 1.78% to $3,287 per ounce.

U.S. stocks were little changed Monday as investors reacted to Moody’s Ratings stripping the U.S. of its last triple-A credit grade and lawmakers advancing a tax bill expected to add significantly to federal deficits. The S&P 500, coming off a five-day winning streak, rose slightly, while the Nasdaq Composite rose 0.01%. The Dow Jones Industrial Average rose 0.3%, with support from a rebound in UnitedHealth Group shares. Moody’s late Friday downgraded U.S. debt to AA1, citing “persistent, large fiscal deficits” and higher interest costs. The move came as the House Budget Committee approved a tax-and-spending plan from President Trump that would extend cuts and boost spending, raising deficit projections. The 10-year Treasury yield briefly spiked to 4.56%, its highest level in over a month, before pulling back to 4.46%. Yields on 30-year Treasurys touched 5% before settling near 4.95%. The dollar index fell 0.7%, while gold jumped 1.5% to $3,235 an ounce. Tech stocks, which led recent gains, traded mixed. Tesla dropped 2% following last week’s 17% rally. Apple slipped 1.5%, while Nvidia, Alphabet, and Meta also declined. Microsoft and Amazon edged higher. Bitcoin ( BTC ) surged to $105,400, lifting shares of Strategy 3%. Palantir, AMD, and Super Micro Computer each fell over 2%. JPMorgan CEO Jamie Dimon warned that the full economic impact of tariffs had yet to be felt, while Fed officials signaled no immediate changes to interest rates amid ongoing uncertainty. Global markets were mixed. European stocks rose slightly, while Asia saw losses. The European Union cut its growth outlook, and Diageo forecast a $150 million hit from tariffs.

A few days ago, Moody’s downgraded the US sovereign credit rating from Aaa to Aa1, which marked the first time in over a century that the US no longer holds a top-tier rating from any major credit agency. Driven by escalating national debt and persistent fiscal deficits, the decision has sent ripples through global financial markets, particularly in the United States. For instance, US stock futures declined sharply following the downgrade, with futures tied to the Dow Jones Industrial Average falling by 0.79%, the S&P 500 dipping 0.97%, and the Nasdaq 100 dropping 1.19%. The bond market was hit as well, where the yield on the 30-year US Treasury bond surged to 5.03%. This is the highest level since November 2023, indicating increased borrowing costs for the government. Surprisingly, gold wasn’t spared either, with prices crashing by more than 2% on Friday. However, it started to recover a bit, considering that the price rose more than 1% today. Being the well-known safe-haven likely helped gold with the recovery, in combination with the weaker dollar. But why did this all happen? According to Moody’s, there are several reasons, with rising debt levels being among the top ones. Namely, the US national debt has reached $36 trillion, with projections indicating a debt-to-GDP ratio will escalate from 98% in 2024 to 134% within a decade. Continuous budget deficits without substantial fiscal reforms have raised concerns about the government’s financial stability, while political divisions have hindered the implementation of measures to address the growing debt. In other words, the government’s ability to respond to economic challenges is inadequate. Almost at the same time, new US Treasury data revealed that in March, China’s holdings of US Treasury bonds decreased, marking the first time this century that the UK held a larger share of US bonds than China. This might add some additional concern for the US, especially taking into account that this occurred only a few weeks after the April market upheaval, which included a significant Treasury selloff alongside drops in stock, bond, and dollar values. Some in the US downplayed the situation, like the US Treasury Secretary Scott Bessent. He labeled Moody’s as a lagging indicator, saying that the current economic situation is due to Biden’s administration policies. Still, while the immediate market reactions have been notable, the long-term effects of the downgrade remain uncertain, and we’ll probably have a clearer picture in the near future. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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The three major U.S. stock indexes opened low and ended high, with the Dow Jones Industrial Average turning positive first The three major U.S. stock indexes opened low and ended high, with the Dow Jones Industrial Average turning positive first, the Nasdaq narrowed its decline to 0.44%, and the S&P 500 fell 0.28%. (Jinshi)