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Odaily Planet Daily reports that the Morgan Stanley strategy team led by Mike Wilson believes that unless the White House abandons its tariff plan, or the Federal Reserve releases easing signals, investors should prepare for a further 7%-8% drop in the S&P 500 index. They stated in their report to clients earlier on Monday that the next support level of this index - i.e., where buyers would enter - is currently at 4700 points. They added that at this level, valuations provide better support and this point is close to the 200-week moving average line, which is a long-term indicator of technical trends. Last Thursday, Morgan Stanley had set 5100 points as a key point but updated its support position on Monday partly because stock futures showed no signs of selling off easing. The S&P 500 Index futures indicate more than a 3% drop and Dow Jones Industrial Average futures plummeted over 1200 points. The Trump administration did not show any signs of backing down in comments last Sunday while Federal Reserve Chairman Powell said last Friday that due to unclear economic impacts from tariffs, they will adopt a wait-and-see attitude.

According to ChainCatcher, renowned economist and gold supporter Peter Schiff shared on social media that the price of ETH has fallen below $1,500, marking a new two-year low. The intraday low reached just above $1,400, a 20% drop from previous levels. It is expected that its price will soon fall below the $1,000 mark.