According to @FoxNews, a new segment shows Democratic lawmakers attempting to explain why the U.S. stock market is described as booming even as Trump-era tariffs remain in place, highlighting tariff policy as a live market narrative for traders; source: https://www.foxnews.com/politics/watch-dems-attempt-explain-why-stock-market-booming-despite-trump-tariffs. For sector positioning, traders should note that Section 301 tariffs cover roughly $370 billion of Chinese imports with heavy exposure in machinery, electronics, and consumer products, which can pressure margins for import-intensive industries when costs are passed through; sources: https://ustr.gov/issue-areas/enforcement/section-301-investigations/section-301-tariff-actions and https://www.usitc.gov/publications/332/pub5405.pdf. Empirical research documents substantial pass-through of 2018 tariffs to U.S. import prices, implying higher input costs and earnings sensitivity during tariff shocks, which is relevant when pricing tariff-exposed equities; source: https://www.nber.org/papers/w25672. For digital assets, increased equity risk appetite can coincide with stronger co-movement in BTC and ETH, as the correlation between Bitcoin and the S&P 500 rose markedly post-2020, so an equity rally narrative can be supportive for crypto beta; source: https://www.imf.org/en/Blogs/Articles/2022/01/11/crypto-prices-move-more-in-sync-with-stocks-posing-new-risks. Headline risk around trade policy is a catalyst for volatility and sector rotation, so traders should monitor tariff-related developments for timing and hedging; source: https://www.federalreserve.gov/econres/ifdp/files/ifdp1256.pdf.