US stocks rallied on Tuesday as a temporary tariff truce provided relief, despite weak corporate earnings.
Impact of Tariff Truce
After President Trump's announcement of a temporary pause in tariffs on Mexico and Canada, US stock indices began to recover, offering a brief respite for markets and investors from escalating trade tensions.
Company Performance on Wall Street
Certain companies disappointed investors, with Alphabet and AMD experiencing stock declines due to weak quarterly results. Conversely, companies like Apple and Nvidia showed growth despite the overall slowdown.
Crypto Markets Under Pressure
Amid weakness in the US stock market, crypto markets experienced significant pressure. Bitcoin and Ethereum saw price declines, while contract liquidation volumes rose, exacerbating the market situation.
Despite the brief uptick, US markets remain under pressure due to uncertainties surrounding trade wars and weak corporate results.
