Ed Ludlow

This is Bloomberg Tech.

Coming up, President Trump looks to rebuild his tariff trade policy after the Supreme Court struck it down, reviving market jitters.

Plus, Bitcoin not immune to those tariff anxieties, sliding below $65,000 at one point for the second time this month.

And today's the day for Paramount Skydance to submit its best and final offer for Warner Brothers Discovery.

We'll discuss what to expect.

Let's turn our attention, though, to, well, the anxieties that beat up the Nasdaq 100 to the extent that it's at session lows as we speak.

We're currently off by 1.3 percent.

You're seeing anxiety, whether it's AI once again playing into those software names, whether it's the tariff jitters and what that means in terms of long term uncertainty for these businesses.

We are pulling back on our risk on attitude, certainly in the world of crypto as well.

Down 2.9 percent, even as gold gets a little bit of a reprieve.

Ed, what are you watching underneath the hood?

Yeah, let's get to our top story.

President Trump is looking to rebuild his tariff trade policy after the Supreme Court struck down his use of the International Emergency Economic Powers Act, or IEPA, to impose sweeping global tariffs.

In response, his administration signed an executive order

to impose a 10% tariff on imports using an alternative legal authority.

And over the weekend, the president announced on Truth Social that he intends to raise that rate to 15%, or quote, a much higher tariff and worse.

Let's get the latest with Bloomberg senior tech editor, Mike Shepard.

Shep, what's the state of play as of right now?

Well, Ed, it is moving pretty quickly now.

The administration is really trying to ensure that all of the trade agreements that it reached with trading partners around the world over the past year don't come undone.