After Trump swung the tariff stick, Canadian stocks actually outperformed the S&P 500—who wouldn’t be confused by that script? $NOW 24 up 4.25% in 24 hours, but the funding rate is at zero and open interest is only a little over 8,600 contracts, with both bulls and bears staying on the sidelines. This rally looks like a safe-haven rotation amid tariff panic, with money drifting out of U.S. tech stocks in search of other outlets. Tariffs squeeze supply chains; when tech companies’ costs rise, profits fall, and related stocks come under pressure. Don’t chase it—this is a short-term trade driven by Trump-trade turbulence.

Trading tag: #TradFi #链上美股 #NOW

Where do you think this line of reasoning is most likely to be wrong?