Donald Trump’s new tariffs have sent shockwaves through markets, sending bitcoin and crypto stocks plunging. Bitcoin fell 3% to around $BTC 83,000, while other cryptocurrencies such as ether fell 26%. The decline was largely driven by investors seeking risk aversion and safe haven assets amid growing economic uncertainty.
Conversely, gold prices hit record highs on safe-haven demand. The stock market reaction was mixed, with the S&P 500 down 0.5% and the Dow up 33 points.
The tariffs, which are intended to protect domestic industries, have raised concerns about the escalating trade tensions and their broader implications for risk assets. As a result, investors are becoming increasingly cautious, leading to a decline in crypto markets.
