The Nvidia panic, America’s Bitcoin Reserve, and Trump’s trade war hits stocks: Markets news roundup

February 8, 2025

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Image for article titled The Nvidia panic, America's Bitcoin Reserve, and Trump's trade war hits stocks: Markets news roundup

Photo: Chip Somodevilla (Getty Images), Anna Moneymaker (Getty Images), Monty Rakusen (Getty Images), Michael M. Santiago (Getty Images), Annabelle Chih/Bloomberg (Getty Images), Daniel Bosma (Getty Images), Illustration: Alvaro Fernandez Echeverria (Getty Images), Image: NurPhoto (Getty Images)

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President Donald Trump

President Donald Trump
Photo: Chip Somodevilla (Getty Images)

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Image for article titled The Nvidia panic, America's Bitcoin Reserve, and Trump's trade war hits stocks: Markets news roundup

Photo: Anna Moneymaker (Getty Images)

The Trump administration is actively pursuing initiatives related to cryptocurrency, but there has not been any official announcement regarding the highly anticipated Bitcoin reserve. David Sacks, the White House’s cryptocurrency director and President Donald Trump’s crypto czar, held a press conference to discuss the U.S. digital asset strategy. However, he did not reveal any specific plans for stockpiling Bitcoin, instead stating that the team would evaluate the feasibility of a Bitcoin reserve.

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Image for article titled The Nvidia panic, America's Bitcoin Reserve, and Trump's trade war hits stocks: Markets news roundup

Photo: Monty Rakusen (Getty Images)

With rising prices, an affordable housing crisis, and the specter of looming tariffs, Americans are looking to save money just about everywhere.

And with nine in 10 American households owning at least one car, many are looking at their vehicles as a place to save.

Self, a credit-building toolkit, looked at the 50 best-selling cars between 2022 and 2024 and ran the numbers to find the most and least expensive ones to run. It didn’t consider the vehicle’s purchase or lease price and instead looked at average annual gas costs, maintenance, insurance, fees, and taxes.

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Image for article titled The Nvidia panic, America's Bitcoin Reserve, and Trump's trade war hits stocks: Markets news roundup

Photo: Michael M. Santiago (Getty Images)

The Nasdaq and other major stock market indexes dipped Wednesday after underwhelming earnings reports from Google parent Alphabet (GOOGL) and chipmaker Advanced Micro Devices (AMD). Other tech stocks such as Apple (AAPL), Amazon (AMZN), and Tesla (TSLA) were also in the red.

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Jensen Huang holding an AI chip platform while speaking, an nvidia logo on a chip is darkly lit on display behind him

Nvidia CEO Jensen Huang during an event in Taipei, Taiwan on June 2, 2024.
Photo: Annabelle Chih/Bloomberg (Getty Images)

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Image for article titled The Nvidia panic, America's Bitcoin Reserve, and Trump's trade war hits stocks: Markets news roundup

Photo: Daniel Bosma (Getty Images)

The average U.S. family is currently shelling out at least $2,000 a year on utilities. That’s on top of the average $2,450 most people spend annually on gas.

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Image for article titled The Nvidia panic, America's Bitcoin Reserve, and Trump's trade war hits stocks: Markets news roundup

Image: NurPhoto (Getty Images)

President Donald Trump has begun a new trade war with Canada, Mexico, and potentially China, and this has had a significant ripple effect on the broader financial landscape, including the cryptocurrency market. Trump’s latest move involves imposing a 25% tariff on imports from Canada and Mexico, while Chinese imports will be taxed at 10%. 

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Donald Trump wants a sovereign wealth fund. Here are the risks and rewards, according to a strategist

Eric Beiley of The Beiley Group at Steward Partners breaks down how a sovereign wealth fund might work for America like they do in Singapore and Norway

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Tariffs, interest rates, and market volatility: What they mean for your investments in 2025, according to a strategist

Eric Beiley, Executive Managing Director of The Beiley Group at Steward Partners, breaks down what China’s retaliatory tariffs could mean for investors

 

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