Trump Iowa Speech Could Shake Markets as Volatility Builds Across Stocks and Crypto

President Donald Trump’s speech in Iowa today is expected to focus heavily on affordability and the broader economy, coming at a time when financial markets are experiencing heightened volatility. Stocks, crypto, and commodities have all seen unstable swings amid concerns over a potential U.S. government shutdown, delays in crypto legislation, and renewed uncertainty surrounding possible Trump tariffs on Canada.

According to The New York Times, Trump’s Iowa remarks will emphasize economic outcomes rather than dwelling on trade disputes. This is notable for Iowa, where the farming economy has struggled with higher input costs after past tariffs increased prices on machinery, tractors, and metal storage bins. Trump is expected to frame his policies as tools to ease financial pressure on households, especially as inflation and interest rate uncertainty remain top of mind for voters and investors.

Scott Bessent confirmed on X that he will join Trump during the Iowa event to discuss economic policies already taking effect. Among the key talking points are proposals such as eliminating taxes on tips and overtime pay, policies aimed at boosting disposable income and consumer spending. These themes align with Trump’s recent rhetoric linking affordability with economic growth and market confidence.

Markets are paying close attention due to Trump’s influence on sentiment. At the World Economic Forum in Davos last week, Trump referenced the CLARITY Act and expressed optimism about signing a crypto market structure bill. He also sharply criticized Federal Reserve Chair Jerome Powell and hinted at nominating a new Fed chair, comments that immediately triggered reactions across equity and crypto markets.

Speculation has grown that BlackRock CIO Rick Rieder could emerge as a leading candidate to replace Powell. Rieder’s preference for lower interest rates is viewed as potentially bullish for both stocks and crypto, adding another layer of anticipation around Trump’s Iowa speech.

Ahead of the address, U.S. equities were mixed. The S&P 500 hit a new all-time high near 6,989, while the Nasdaq Composite gained strength. In contrast, the Dow Jones Industrial Average lagged. Crypto-linked stocks mostly declined, while Bitcoin hovered near $88,000, still trailing gold despite a weaker U.S. dollar.

Beyond the Trump Iowa speech, investors are also bracing for the FOMC meeting and upcoming PPI inflation data, both of which could amplify market volatility in the days ahead.