Tariff Showdown: China and EU vs. U.S., Treasury Yields Spike, Market Volatility 4/9/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 9 April 2025

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Another volatile day on Wall Street as David Faber and Jim Cramer dissect market reaction to the trade war. China ramps up its tariffs on U.S. imports to 84-percent -- retaliating against President Trump's 104-percent levy on Chinese goods -- while the European Union outlines its own retaliatory tariffs against the U.S. The anchors also explored 10-year Treasury yields surging by as much as 4.5-percent and what it all means for liquidity. Also in focus: Minneapolis Fed President Neel Kashkari on inflation vs. tariffs, what the CEOs of Walmart and Delta Air Lines said about tariff uncertainty and guidance, President Trump's "BE COOL" social media post, the "Magnificent 7" trade. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:05.7	Wednesday morning, everybody. Welcome to Squawk on the Street. I'm David Fever with Jim Kramer.
0:09.5	We're live from post nine at the New York Stock Exchange. Carl's on assignment this morning.
0:13.6	Let's take a look at futures. Things have been trading, changing quickly. But generally, we are talking about a lower open, though we are far off the lows
0:22.9	at the implied, at least the implied open.
0:25.2	Way down from the highs at 5 a.m. I mean, this stuff is nonsense.
0:28.6	Okay. Well, you heard it there. Nonetheless, we're going to continue to forge ahead here,
0:33.2	nonsense or not. Our roadmap does begin. I'm just saying that the variability of what you
0:37.3	see on your screen may not be that
0:38.3	deposit positive to what happens a half hour from now.
0:41.3	Correct.
0:42.3	Correct.
0:43.3	I don't know if you heard, there's a lot of uncertainty out there, and that starts with the trade war.
0:46.3	China, of course, is ramping up its tariffs on U.S. imports to 84%.
0:51.3	It's now retaliating against what are 104% levies on Chinese goods, and it all is now
0:58.1	in effect. We are seeing a sell-off as well in the Treasury market. It's all anybody wants to
1:05.3	talk about with me this morning. One point overnight, the yield on the 10-year note jumping to
1:09.1	four and a half percent. And of course, that uncertainty,
1:12.7	well, it's also impacting corporate forecasts. Walmart pulls its operating income guidance
1:17.7	for the current quarter. As for Delta, it says it will not reaffirm its full-your outlook.
1:22.9	CEO at Bastion saying the airline is acting as if we're going to go into a recession.
1:29.3	Let's get right to the markets.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.