Weekly Market Recap | Mar 24 – Mar 30

Key Takeaways

AI Investment Surge Draws Dot-Com Bubble Comparisons
A wave of investor enthusiasm for artificial intelligence has driven stock prices to overheated levels, sparking warnings from analysts of a potential bubble reminiscent of the early 2000s tech crash.
Trump Deploys “Secondary Tariffs” to Target Venezuela’s Oil Trade
President Trump introduced a 25% secondary tariff on countries purchasing oil from Venezuela, aiming to further isolate the nation economically. The move is expected to hit major trading partners like China and deepen Venezuela’s financial crisis.
Turkey’s Markets Rebound After Political Shock
Turkey faced market turbulence following the detention of Istanbul Mayor Ekrem Imamoglu, a key rival to President Erdogan. Finance Minister Mehmet Simsek’s reassurances helped stabilize the lira and investor sentiment by week’s end.
Global Tariff Tensions Escalate Under Trump’s Trade Policy
President Trump announced new tariffs on automobile imports and hinted at reciprocal trade breaks, prompting strong reactions from allies like Canada, the EU, and India—each lobbying for exemptions amid growing trade tensions.
China Sentiment Improves, But Large-Scale Investment Still on Hold
At the Milken Institute Symposium in Hong Kong, investors acknowledged a slight uptick in optimism toward China’s economy. Still, concerns over policy clarity are preventing major capital from returning to Chinese markets.

IPO’s in the week

LogProstyle Inc. (NYSE American: LGPS), a Japan-based company operating in Real Estate, Hotel, and Other services, completed its IPO on March 25, 2025, offering 2.5 million shares at $5.00 each to raise $12.5 million. Proceeds will fund the expansion of its Machinaka Ryokan hotel business in Japan, the U.S., and UAE, along with real estate renovation and resale operations across Asia and the U.S.
NeOnc Technologies Holdings, Inc. (Nasdaq: NTHI), a clinical-stage life sciences company developing central nervous system therapeutics targeting the blood-brain barrier, completed its IPO on March 26, 2025. The company offered 2,101,313 shares at $16.00 each, raising approximately $33.6 million to support its drug development and commercialization efforts.
Epsium Enterprise Limited (Nasdaq: EPSM), a holding company that imports and sells Chinese liquor, French cognac, Scottish whiskey, and other alcoholic beverages in China, completed its IPO on March 26, 2025. The company offered 1,250,000 shares at $4.00 each, raising $5 million to support its business growth and distribution network.
WF Holding Limited (Nasdaq: WFF), a Malaysia-based ISO 9001:2015 certified manufacturer of fiberglass reinforced plastic (FRP) products such as tanks, pipes, ducts, and custom-made solutions, completed its IPO on March 27, 2025. The company offered 2,000,000 shares at $4.00 each, raising $8 million to support its manufacturing expansion and operational growth.
Aeluma Inc. (Nasdaq: ALMU), a semiconductor company developing high-performance scalable technology for applications in mobile, automotive, AI, defense, aerospace, communications, AR/VR, and quantum computing, completed its IPO on March 27, 2025. The company offered 1,739,130 shares at $5.25 each, raising approximately $9.13 million to accelerate product development and market expansion.
Intercont Limited (Nasdaq: NCT), which recently debuted on March 28, 2025, offered 1,875,000 shares at $7.00 each, raising approximately $13.13 million. The IPO proceeds are expected to support the company’s strategic initiatives and operational expansion.
CoreWeave Inc. (Nasdaq: CRWV), a cloud platform purpose-built for scaling and accelerating generative AI workloads, completed its IPO on March 28, 2025. The company offered 49,000,000 shares at $40.00 each, raising $1.96 billion to expand its AI infrastructure, enhance supercomputing accessibility, and support the growing demands of GenAI deployment at scale.
Newsmax Media, Inc. (NYSE: NMAX), a leading U.S. news and new media company founded in 1998 by journalist Christopher Ruddy, completed its IPO on March 29, 2025. The company offered 7,500,000 shares at $10.00 each, raising $75 million to support its growth in digital media, broadcasting, and content expansion.

Markets this week

The rapid adoption of artificial intelligence has rekindled memories of the dot-com bubble 25 years ago. Investors are pouring money into AI technologies, driving share prices to overheated levels and raising concerns about a potential collapse similar to the early 2000s.
President Donald Trump unveiled a new trade tool, “secondary tariffs,” aimed at countries purchasing oil from Venezuela. This move is designed to choke off Venezuela’s oil trade with other nations, escalating economic pressure on the country.
Global investors at the Milken Institute Global Investors’ Symposium in Hong Kong noted signs of improving sentiment toward China. However, many believe it will require stronger conviction for large funds to return to the Chinese market.
Turkey’s Finance Minister Mehmet Simsek vowed to stabilize financial markets after last week’s detention of Istanbul Mayor Ekrem Imamoglu triggered billions in outflows. Turkish bonds and stocks rebounded following reassurances from top officials during a teleconference with investors.
President Donald Trump revealed plans to impose tariffs on automobile imports in the coming days while teasing reciprocal tariff breaks for certain nations. This announcement adds to ongoing trade tensions globally.
Wall Street investors gathered in Istanbul were stunned as Turkey’s lira plunged following the detention of Mayor Ekrem Imamoglu, a key rival of President Erdogan. The incident disrupted confidence in Turkey’s financial stability despite prior optimism about its economic outlook.
The U.S.’s secondary tariffs targeting Venezuela’s oil trade have further isolated the country economically, complicating its ability to engage in international commerce and exacerbating its financial crisis.
The euphoria surrounding artificial intelligence investments has led to skyrocketing stock prices, reminiscent of the dot-com bubble era. Analysts warn that unchecked enthusiasm could lead to market instability if expectations aren’t met.
Turkey’s financial markets experienced significant turbulence as political developments, including the detention of Istanbul Mayor Ekrem Imamoglu, undermined investor confidence and triggered currency sell-offs
While sentiment toward China’s economy is improving among global investors, many remain cautious about committing large-scale investments due to lingering uncertainties in policy and market conditions.
President Trump’s announcement of auto tariffs has added strain to U.S.-China relations, with reciprocal duty breaks potentially influencing trade dynamics between the two superpowers.
Turkey’s Finance Minister Simsek reassured investors about plans to stabilize markets after political unrest caused a sharp decline in asset values and foreign investment outflows last week.

Politics Weekly

Ukraine is seeking amendments to a sweeping economic deal proposed by President Donald Trump. The draft agreement would grant the U.S. control over infrastructure and mineral investments in Ukraine without a time limit, raising concerns in Kyiv about its implications for EU membership and repayment of U.S. military aid.
Canadian Prime Minister Mark Carney accused President Donald Trump of targeting Canada with unjustified trade actions, including new tariffs on automotive imports. Carney announced a national election for April 28, vowing to stand up against U.S. economic pressure.
President Donald Trump is expected to announce a new round of tariffs targeting various goods, with global markets bracing for the economic impact. The upcoming tariffs are part of Trump’s broader strategy to reshape international trade dynamics.
India is lobbying for an exemption from President Trump’s proposed “reciprocal tariffs” during high-level meetings with U.S. officials this week. The tariffs, set to take effect on April 2, have sparked diplomatic efforts from multiple nations to mitigate their impact.
Turkey’s financial markets rebounded after Finance Minister Mehmet Simsek reassured investors following the detention of Istanbul Mayor Ekrem Imamoglu, a prominent rival to President Erdogan. The incident had triggered significant outflows and currency volatility earlier in the week.
European Union trade chief Maros Sefcovic met with U.S. officials to negotiate relief from impending tariffs, particularly those targeting automotive and pharmaceutical sectors. These discussions come as part of broader efforts to ease transatlantic trade tensions under the Trump administration’s aggressive tariff policies.
President Trump announced a 25% tariff on nations purchasing oil from Venezuela, intensifying economic isolation for the embattled country. This move is expected to impact China heavily, as it remains one of Venezuela’s key trading partners for oil and gas exports.
Bloomberg Government released its 2025 State Policy Watchlist, focusing on privacy protections, AI regulation, cost-of-living reforms, Big Tech scrutiny, and pay transparency laws across the U.S., showcasing the evolving political landscape at the state level.

Technology Advancements this week

Apple is gearing up for its most significant health care initiative yet, featuring a revamped Health app and an AI-powered doctor service. The company is also testing the M5 iPad Pro for release later this year and has scheduled its 2025 developers conference for June.
BYD reported record-breaking sales in 2024, surpassing Tesla as the global leader in electric vehicle revenue. The company’s success underscores the growing demand for EVs worldwide.
Aura, led by CEO Hari Ravichandran, unveiled new AI-powered tools designed to enhance online safety for children. These innovations aim to combat cyberbullying and inappropriate content exposure.
Sikander Rashid, Head of Europe at Brookfield Asset Management, stated that AI will surpass all previous technologies in boosting economic productivity. He emphasized its potential to redefine industries globally.
Read more on Bloomberg
Google is redesigning its search engine with AI-driven chatbots to compete with ChatGPT’s conversational capabilities. This marks a significant shift in how users interact with web search platforms.
Chinese tech stocks dropped nearly 10% from their March highs due to disappointing earnings and Xiaomi’s $5.5 billion share sale. The Hang Seng Tech Index fell 3.8%, signaling a sharp reversal in market sentiment
Apple is expanding its AI portfolio, including plans for wearable devices with built-in cameras and enhanced iOS capabilities. Mark Gurman highlighted these developments during a live Q&A session.
The Information Technology Industry Council, led by CEO Jason Oxman, is lobbying President Trump to reconsider chip export restrictions that could inadvertently benefit China while harming the U.S.-based innovation efforts.
Airbus CEO Guillaume Faury reaffirmed the company’s commitment to meeting 2050 climate goals despite ongoing trade tensions affecting the aerospace industry globally.
Xiaomi raised $5.5 billion through an upsized placement but faced backlash as its stock dropped by 6.3%. The sale has sparked concerns about overvaluation in China’s tech sector amid warnings of a potential bubble in datacenter construction from Alibaba’s chairman.
Apple is working on transforming its smartwatches into advanced AI wearables equipped with cameras, aiming to integrate deeper artificial intelligence functionalities into everyday devices.
Aura introduced cutting-edge AI solutions aimed at protecting children from online threats such as cyberbullying and harmful content exposure, leveraging machine learning algorithms for real-time monitoring and intervention.