News

It's been a sea of red in Asia so far on Wednesday, with new U.S. moves turning up the heat in the trade war with China, but at least the losses have been relatively shallow compared with other down days of the past few weeks. Washington issued new export licensing requirements for Nvidia's H20 and AMD's MI308 artificial intelligence chips to China. Nvidia's shares slumped 6% in after-hours trading, after it said the move would cost $5.5 billion.

Stock market investors are bound to feel a degree of trepidation following recent economic events. After all, the near-term outlook for inflation, interest rates and GDP growth has been turned on its head by the prospect of extreme US tariffs. Indeed, the potential for further heightened uncertainty may be sufficient to convince some equity investors to seek shelter in other mainstream assets.

Bank of America called Netflix stock a "defensive choice" compared to other tech companies.

Four asset managers—Purpose, Evolve, CI, and 3iQ—are set to launch spot Solana exchange-traded funds (ETFs) in Canada on April 16.

Figma has confidentially filed for an IPO more than a year after a $20 billion acquisition bid by Adobe fell apart due to antitrust concerns.

The stock market is now looking at "significant upside" from current levels, said Fundstrat's Tom Lee.

"If Treasuries hit a certain level or if the Federal Reserve believed that a foreign — I won't call them an adversary — but a foreign rival were weaponizing the U.S. government bond market or attempting to destabilize it for political gain, I am sure that we would do something in conjunction with each other, but we just haven't seen that," Bessent said. "We have a big tool kit."