A busy week lies ahead on the United States economic calendar as markets digest the latest round of trade tariffs from President Trump.
Crypto markets have tanked again, with Bitcoin dropping more than $3,000 in an hour or so, wiping out all weekend gains.
Donald Trump has been on the tariff warpath again, imposing a 15% global tariff after the Supreme Court found on Friday that his sweeping tariffs exceeded his authority.
“Meanwhile, geopolitical tensions remain elevated between the US and Iran, with oil markets on edge,” commented the Kobeissi Letter.
Economic Events Feb. 23 to 27
Markets are already digesting the latest round of tariffs in addition to the increased geopolitical tensions in the Middle East, with crypto markets tanking 4% on Monday morning.
Tuesday will see the release of February’s Consumer Confidence data, which sheds light on consumer sentiment and potential spending patterns. Sentiment fell to its lowest level since 2014 in January as people were mostly concerned about employment conditions during the first month of the new year.
Thursday will see initial jobless claims, which paint a clear picture of pressures on the labor market, one of the Federal Reserve’s two mandates for monetary policy. Friday will see the release of the January Producer Price Index (PPI), which is a measure of wholesale Inflation, the Fed’s other mandate. However, it is unlikely to move the Fed off its wait-and-see approach.
Key Events This Week:
1. Markets React to Trump’s 15% Global Tariff – Monday
2. February Consumer Confidence data – Tuesday
3. Nvidia, $NVDA, Reports Earnings – Wednesday
4. Initial Jobless Claims data – Thursday
5. January PPI Inflation data – Friday
6. Total of 11 Fed…
— The Kobeissi Letter (@KobeissiLetter) February 22, 2026
Wednesday’s Nvidia earnings report could also rattle the AI sector if demand for the firm’s chips appears to be waning, though this is unlikely.
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Crypto Markets Tank Again
A red Monday morning has seen total capitalization erase weekend gains with a 4% decline to $2.31 trillion. Bitcoin tanked from $67,600 to just below $65,000 in a couple of hours and remains around the $65,000 level at the time of writing.
The asset is now down more than 5% on the week and at support at the bottom of its range-bound channel. Ether prices saw similar losses, tanking to $1,860, its lowest level since February 6. Meanwhile, altcoins continue to bleed out with larger losses for Solana, Cardano, Hyperliquid, and Chainlink.
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