⁠The Kobeissi Letter
This is the market’s reaction to Apple’s, $AAPL, tariffs being “reduced” from 145% to 20%.

That’s all you need to know to understand where we are right now. https://t.co/GAf0xl85KW
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⁠The Kobeissi Letter
BREAKING: Nvidia, $NVDA, erases all “tariff exemption” gains and turns red on the day. https://t.co/gLXVdFwEJw
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⁠The Kobeissi Letter
BREAKING: The Nasdaq officially turns negative, erasing a +2.5% gain 3 hours after the open. https://t.co/uMSdXlKo5M
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⁠The Kobeissi Letter
BREAKING: Janet Yellen says President Trump's policies are eroding trust in the US Dollar and Dollar Assets.
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⁠The Kobeissi Letter
BREAKING: President Trump says he "will do" tariffs on imported pharmaceuticals.

"All I have to do is impose a tariff... the higher the tariff, the faster they come," he says.
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⁠The Kobeissi Letter
BREAKING: The S&P 500 officially turns red on the day, erasing a 100+ point rally. https://t.co/Echl5O8cc5
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⁠The Kobeissi Letter
RT @KobeissiLetter: @JohnDoss1 It'll be red by tomorrow.
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⁠The Kobeissi Letter
BREAKING: President Trump says he "helped Apple's Tim Cook recently" just days after clarifying electronics are exempt from 145% reciprocal tariffs.

How is it decided who gets helped?
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⁠Finding Compounders
Remembering Uncle Ben ( Ben Graham) https://t.co/rHbhHmvQET
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⁠Finding Compounders
10 investing don’ts from Seth Klarman https://t.co/sQGwlOUWqa
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⁠The Kobeissi Letter
BREAKING: US consumer credit fell $810 million in February, posting the 2nd monthly decline in the last 4 months.

This was significantly below consensus expectations of a $15 billion rise.

The decline was driven by a sharp pullback in credit card balances and a drop in motor vehicle and other non-revolving credit.

Revolving credit, which includes credit cards, rose by $128 million.

Non-revolving debt covering student and auto loans fell $938 million.

Americans are getting more cautious about their debt.
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