Canada Tariffs Hit; Stocks Snap Win

US-Canada Trade Talks Collapse

The U.S. imposed 50% tariffs on ~$20 billion in Canadian goods Saturday morning after trade talks collapsed Friday night. PM Carney suspended negotiations and vowed "dollar for dollar" retaliation. USTR Greer blamed Canada for last-minute changes; no further talks are scheduled.

−1.43%

S&P 500 weekly loss after 3 winning weeks

Stocks Up Friday, Down for Week

All three major indexes rose Friday but still posted their first weekly loss in four weeks. S&P 500 +0.4% to ~7,674; Dow +1% (up ~517 pts) to ~53,277; Nasdaq edged higher. For the week: S&P −1.43%, Nasdaq −2.05%, Dow −0.85%, Russell 2000 −1.65%.

Bond Market Stabilizes After Bessent Intervention

Treasury Sec. Bessent's midweek move to increase long-dated bond buybacks briefly calmed the market — 30-yr yield slid from 5.33% to ~5.18% — but yields crept back to ~5.26% by Thursday. Bonds steadied Friday but remain volatile as investors question whether buybacks are a durable fix.

SourcesNBC News Washington Post

$93.78

Brent settle, one-month high, +6% on the week

Oil at One-Month Highs on Iran Tensions

Brent crude settled near $93.78, WTI ~$86.20, hitting one-month highs as Trump threatened sanctions on Iran's trading partners. Oil is up roughly 6% on the week, adding inflation pressure ahead of next week's PCE data.

SourcesEastern Herald Business Recorder

+22%

BTC five-day rally, ~$1.2B shorts liquidated

Bitcoin Surges 22% in Five Days

Bitcoin jumped ~6.6% Friday to ~$78,000, extending a five-day rally of roughly 22% that liquidated ~$1.2B in short positions. The surge comes despite equity market weakness and coincides with rising crypto risk appetite.

SourcesRio Times Bybit

What to Watch This Week

Tue Aug 25: Conference Board consumer confidence (expected to show further August decline after July slip)

Later in week: PCE inflation — the Fed's preferred price gauge

Fri Aug 28, 10am ET: Fed Chair Kevin Warsh keynote at Jackson Hole symposium (Aug 27–29) — the marquee event for rate-path clues

Canada tariff fallout: watch for retaliation details and any USMCA renegotiation timeline impact

SourcesAP News WSJ Federal Reserve

Investors See Trade War as Top Risk

CNBC's survey of six major investors flagged trade war escalation, bond market dislocation, and geopolitical risk as top concerns — with diversification the one strategy all agreed on.

SourcesCNBC

Sources

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