Good morning from the Financial Times.
Today is Tuesday, April 8th, and this is your FT News Briefing.
Markets have suffered another day of whiplash, and oil prices were blinking red.
Meanwhile, companies are finding creative ways to cushion the blow from U.S. tariffs.
They're called valuation strategies.
If you can lower the customs value, then the percentage tariff is going to come out to a lower number.
I'm Mark Filippino, and here's the news you need to start your day.
Wall Street took everyone for a ride yesterday on the back of tariffs issued by U.S. President Donald Trump.
The S&P 500 swung all over the place.
At one point, the index was down as much as 4%, and briefly entered bear market territory.
Then it bounced back after there was a rumor that Trump was considering a pause on tariffs,
but the White House denied this.
And while investors were deciding what to do about equities,
safe haven assets like gold and government bonds started to look shaky.
Ten-year U.S. treasuries at one point saw the biggest daily increase in yields since 2022.
Now, midway through this roller coaster,
Trump threatened to impose an additional 50% tariff on China if Beijing didn't get rid of its own retaliatory measures.
All in all, the S&P finished the day down just a smidge.
All right, so we covered equities.
Now on to commodities.