According to @ReutersBiz, Wall Street's main indexes ended mixed, with the S&P 500 turning lower after President Trump said Washington was considering terminating some trade ties with China, including in relation to cooking oil; source: Reuters Business reut.rs/42ERaxS. The headline specifically cited cooking oil within U.S.-China trade ties, a detail that coincided with the S&P 500 weakening while the broader market finished mixed; source: Reuters Business reut.rs/42ERaxS. For crypto, the IMF has documented that crypto prices have moved more in sync with U.S. equities during macro shocks, making U.S.-China trade headlines relevant to BTC and ETH risk monitoring; source: International Monetary Fund blog "Crypto Prices Move More in Sync With Stocks" imf.org/en/Blogs/Articles/2022/01/11/crypto-prices-move-more-in-sync-with-stocks-exposing-new-risks.

According to The Kobeissi Letter, major financial markets moved higher following President Trump's statement labeling China as 'extremely hard to make a deal with.' Despite renewed tariff rhetoric, investors appeared to dismiss the threat, signaling reduced concern over trade tensions. This shift in sentiment could impact cryptocurrency markets by increasing risk-on appetite and driving flows into digital assets as traditional market volatility stabilizes (source: The Kobeissi Letter, June 4, 2025).