Table of Contents

• Alibaba

• Trump Tariffs

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Alibaba

Alibaba’s stock surged after unveiling QwQ-32B, a new AI reasoning model that it claims rivals DeepSeek’s R1. The Hong Kong-listed shares jumped 8.39%, reaching a 52-week high, while U.S.-listed shares saw a slight decline. The QwQ-32B model, with 32 billion parameters, aims to improve math and coding efficiency while consuming fewer resources. Alibaba continues investing in AI through its Cloud Intelligence unit, a major driver of its recent profit growth. Analysts see AI advancements boosting Alibaba’s earnings, as the global AI race intensifies, challenging dominant players like OpenAI, Microsoft, and Google.

Trump Tariffs

President Trump granted temporary tariff exemptions for Canadian and Mexican goods under USMCA until April 2, partially reversing the 25% duties imposed earlier. However, 50% of Mexican imports and over 60% of Canadian imports remain subject to tariffs. Trump plans to introduce “reciprocal tariffs” on April 2 for nations that tax U.S. goods. Mexico's President Claudia Sheinbaum hopes for full exemption, while Canada's Prime Minister Justin Trudeau aims for complete tariff removal. Meanwhile, China remains unaffected by exemptions and has vowed to resist U.S. trade measures, escalating global trade tensions. Markets and businesses remain unsettled.

The uncertainty surrounding Trump's tariff policy sent U.S. stock markets tumbling, with the Dow dropping 467 points (1.09%), the S&P 500 falling 1.83%, and the Nasdaq plunging 2.62%. Investors grew wary of the administration’s inconsistent stance, leading to heightened market volatility. The global bond market also experienced turmoil, as German Bund yields surged to their highest levels since the 1990s, and Japan’s bond yields hit a 16-year peak. Meanwhile, the U.S. dollar weakened, reflecting growing risk aversion among investors. The rapid shifts in trade policy have left businesses struggling to adjust, with fears that continued tariff uncertainty could exacerbate inflationary pressures and slow economic growth.

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