US stock markets are retreating as Treasury yields surge, leading to declines in major indices, with the S&P 500 slipping below 6,000 and the Russell 2000 down 1.77%. Investor sentiment is affected by speculation around Trump's cabinet appointments, particularly concerning potential tariffs on Chinese goods, while Tesla shares fell 6% amid broader market concerns. Digital World Acquisition Corp (DWAC) also saw a nearly 9% drop, reflecting reassessment of Trump-related investments.
An investor in Trump Media was sentenced to 28 months in prison for insider trading related to the company's merger plans. Bruce Garelick was convicted of trading on confidential information about Digital World Acquisition Corp. prior to the public announcement of the deal.
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