President Donald Trump announced potential tariffs targeting the European Union and Apple, including a 25% tariff on foreign-made iPhones and a 50% tariff on EU imports. These announcements led to immediate reactions in the financial markets:
Cryptocurrency Market Impact: Bitcoin experienced a 2.5% drop, falling to $108,745. Other major cryptocurrencies like Ether, XRP, and Solana saw declines between 3% and 4%.
Stock Market Reaction: The S&P 500 futures dropped by 1.3%, indicating broader market concerns over the potential economic implications of the proposed tariffs.