Market Rundown: Trump Tariffs, OpenAI Funding, and US Recession Fears

Trump's 'Liberation Day' Tariffs

• 🗓️ President Trump is set to announce tariffs on trillions of dollars worth of US imports tomorrow, dubbed 'Liberation Day'.
• 🌍 The US government has identified foreign policies considered trade barriers, potentially opening negotiations on various import rates.

Market Reaction and Recession Worries

• 📉 The S&P 500 experienced its worst quarter since early 2022, losing 4.6% as investors fear tariffs could trigger inflation and a potential recession.
• 📊 Goldman Sachs has increased its odds of a US recession this year to 35%.

US Jobs Market Indicators

• 💼 Job openings for February are forecast at 7.616 million, a slight decrease from the previous month.
• 📈 This data precedes Friday's crucial non-farm payrolls report, which investors will scrutinize for signs of an economic slowdown.

OpenAI's Major Funding Round

• 💰 OpenAI plans to raise $40 billion in a new funding round led by SoftBank, valuing the company at $300 billion.
• 🏦 SoftBank will provide $1 billion this month, with the remainder contingent on OpenAI becoming a for-profit company by December, as it is currently structured as a nonprofit.
• ⚖️ Elon Musk is reportedly suing to block this restructuring.