Trump’s Tariffs Shake Markets: Dow Futures Slide, Crypto Liquidations Top $2B
Global markets brace for volatility as Trump’s tariffs take effect Monday, though some say crypto concerns are overblown.
Global markets face a turbulent week after U.S. President Donald Trump's Friday tariff announcement sent U.S. stock futures plummeting and triggered massive crypto liquidations, signaling deepening concerns about prolonged higher interest rates.
Dow futures dropped 1.2% late Sunday, while S&P 500 and Nasdaq futures tumbled 1.9% and 2.7% respectively following Trump's announcement of 25% tariffs on Mexican and Canadian goods and 10% levies on Chinese imports. Those are set to take effect on Monday at 12:01 a.m. EST.
Bitcoin and Ethereum have sunk 5% and 10% respectively while $DOGE coin and $XRP are down 19% apiece.
Crypto markets, trading 24/7, have become early indicators of broader market sentiment. The decline across futures markets and crypto suggest traders expect significant turbulence when U.S. markets open on Monday.
