Overview

• Following Friday’s selloff (Dow -1.9%, S&P 500 -2.7%, Nasdaq ~-3.5%), European equities opened firmer Monday with the DAX up about 0.5–0.6% and U.S. futures rising.
• Asian stocks fell as they caught up to the tariff headlines, with Shanghai benchmarks lower and Tokyo closed for a holiday.
• Cryptocurrency markets suffered sweeping liquidations during the shock—about $20 billion in a day with roughly $7 billion in one hour—before Bitcoin and Ethereum retraced part of their losses.
• On-chain observers flagged two Hyperliquid addresses that opened large short positions minutes before Trump’s announcement and booked sizable profits, drawing insider‑trading allegations.
• Domestic drivers for German stocks included Porsche’s initial talks on deeper cost cuts and employment guarantees, and Reuters reporting PSI Software is near a sale to Warburg Pincus for more than €700 million.