This week started with markets in a state of flux, following a turbulent period of tariff-induced disruptions that wiped out trillions in market value globally. With President Trump’s first round of tariffs now in effect, and more scheduled for April 9, investors brace for a challenging week filled with political uncertainties, economic data releases, and corporate earnings reports.

Here’s an overview of the five major market themes to follow:

1. Intensification of Trade Instability

President Trump’s sweeping tariffs—including a 10% duty on all imports with higher taxes for certain nations—have jolted the markets and raised concerns of a global recession. China’s retaliatory tariffs, the EU’s indication of defensive measures, and unpredictable negotiations with numerous countries have worsened market volatility.

Last week, the S&P 500 fell more than 10%, recording its worst weekly performance since 2020, while the Hang Seng and CSI300 index also suffered major declines on Monday.

Brock Weimer from Edward Jones stated, “Tariffs hinder economic growth in both the U.S. and Canada. However, both economies started 2025 with robust momentum.”

Investors are searching for signs of a potential de-escalation in trade tensions, but the sentiment remains shaky.

2. Trump’s Social Media Activity Fuels Anxiety

Adding to the ongoing uncertainty is President Trump’s relentless support of his tariff policies on Truth Social. While he claimed to have foreign leaders interested in negotiating, he also condemned China’s retaliatory measures and maintained that his approach would not shift.

With ambiguity surrounding whether tariffs are merely negotiating tactics or represent a long-term strategy, market participants will keep a close eye on Trump’s posts for any signals of escalation or potential agreements.

3. Earnings Season Commences

This week also marks the unofficial beginning of Q1 earnings season, with significant announcements anticipated from:

• BlackRock (BLK)

• JPMorgan Chase (JPM)

• Morgan Stanley (MS)

• Wells Fargo (WFC)

• Additionally, a key early report from Levi Strauss (LEVI), Walgreens Boots Alliance (WBA), and Delta Air Lines (DAL)

While these earnings may present glimpses of optimism, analysts caution that escalating trade tensions might overshadow any positive results.

For insights on market sentiment and momentum connected to earnings releases, utilize the Technical Indicator API to access valuable metrics during these turbulent times.

4. CPI Data Release on Thursday

With tariff-induced cost pressures on the rise, the forthcoming March CPI print may significantly influence Fed rate expectations.

Barclays predicts the release could be “benign,” but highlights that tariffs could cause inflation to surge in the coming months, making Thursday’s figures critically important for future monetary policy considerations.

Persistently high inflation could constrain the Fed’s ability to lower rates despite weakening growth forecasts.

5. TikTok Deadline Extended

President Trump has extended the deadline for ByteDance to divest TikTok’s U.S. operations by 75 days, pushing the cutoff to mid-June. This situation remains clouded by national security worries and broader U.S.-China trade dynamics.

Companies such as Amazon (AMZN), Oracle (ORCL), and Applovin (APP) have expressed interest. Any updates could shift market sentiment, particularly affecting tech-heavy indices already facing pressure.

Final Reflections

With no clear resolution regarding tariffs and significant macroeconomic data on the horizon, this week may witness continued market volatility. Traders should prepare for rapid shifts and should look beyond surface numbers to explore the underlying currents impacting the markets.