Stocks Tumble as Dow Plummets 200 Points, Bitcoin Dips to $94k

U.S. Markets Kick Off Week with a Bang

U.S. stocks kicked off the week with a brutal thud, as the Dow Jones Industrial Average crashed down by more than 200 points. It's like the market threw a tantrum after last week's gains, leaving investors scratching their heads.

As the Dow took a nosedive, the S&P 500 wasn't far behind, shedding 0.6%, while the tech-heavy Nasdaq opened 0.8% in the red. Wall Street's bracing for a wild ride this week, with looming tariff developments and the U.S. Federal Reserve's two-day meeting on the horizon.

Last week, stocks were riding high, fueled by some chatter on the U.S.-China trade war front. But now, with whispers that a deal's not coming anytime soon and President Donald Trump's fresh tariff threat on foreign media, the market's on edge, teetering on a knife's edge.

Trump dropped a bombshell on Sunday, May 4, announcing a whopping 100% tariff on movies made outside the U.S. He blasted it out on social media, saying it's going into effect immediately. Talk about a plot twist!

With the trade war drama and the Fed's policy decision looming large, investors are on high alert this week.

Meanwhile, Bitcoin took a hit, dipping to lows of $94k as futures pulled back on Monday. The U.S. dollar's losing its grip, but the 10-year U.S. Treasury yield's holding steady, like a rock in a stormy sea.

As the week unfolds, all eyes will be on the Fed's meeting, but that's not all. Macroeconomic data's coming in hot, and the earnings season's still going strong. Ford and Palantir are set to take the stage, with Disney and AMD not far behind.

On the data front, we've got manufacturing activity data dropping on Monday and jobless claims reports coming in on Tuesday. Investors are chomping at the bit for these reports, hungry for any signs of what's next in this wild economic ride.