Due to Trump's announcement of a 10% tariff on imported goods, market risk aversion was triggered, with prices dropping to below $81,000 at the lowest during the day, currently around $83,500.

The Ethereum Pectra (Prague) upgrade is scheduled to launch on May 7, focusing on optimizing wallet smart contract features to enhance user convenience, which is expected to strengthen its competitiveness in the smart contract field.

TRON founder Justin Sun accused First Digital Trust (FDT) of misappropriating $456 million in TUSD stablecoin reserves and submitted materials to Hong Kong regulators. Although his personal funds have secured user interests, the incident exposed vulnerabilities in the trust industry, which the market interpreted as a potential bottom signal.

Solana (SOL) prices are under pressure due to FTX's plan to liquidate part of its SOL assets before May 30, causing market concerns about selling pressure. Current SOL prices are hovering in the $118-$130 range.

The blockchain game project Big Time (BIGTIME) will unlock 667 million tokens (worth $36.6 million) on April 10. After the announcement, the price briefly surged over 60%, suspected to be an attempt by the project team to attract retail investors.

J.P. Morgan has raised the probability of a global economic recession in 2025 from 40% to 60%, primarily due to tariff policies that could trigger a trade war, supply chain disruptions, and a decline in business confidence.

Expectations for a Federal Reserve interest rate cut have strengthened, with the market anticipating four rate cuts within the year, the first possibly as early as June, causing the dollar index to drop below 100.

Kyrgyzstan signed a memorandum of cooperation with Binance to promote blockchain education and improve government efficiency.

Binance co-founder He Yi stated that Justin Sun's lawsuit regarding TUSD is unrelated to FDUSD, and the FDUSD issuer also indicated full repayment capability, with the FDUSD price rebounding to 0.9839 USDT.

Trump's tariff policy led to the largest single-day drop in the three major U.S. stock indices since 2020, with the Nasdaq falling 5.97%, the S&P 500 down 4.84%, and the Dow down 3.98%. Technology stocks plummeted, with Apple's market value evaporating by over 9%.

On April 2, the U.S. announced a 34% 'reciprocal tariff' increase on China, and just 48 hours later, China announced a 34% tariff increase on all U.S. imports starting April 10, covering all areas including agricultural products, energy, semiconductors, and automobiles, targeting the U.S. economic lifeline precisely!

Commodities: Crude oil fell over 6%, marking the largest daily drop in over two and a half years. Gold turned down after hitting a historic high during the day, with futures gold dropping nearly 3% at one point, while futures silver fell over 8% and copper dropped over 4%.

A-shares and Hong Kong stocks: During the Asian session, A-shares collectively closed lower, while the consumer sector strengthened against the trend. The Hang Seng Index fell over 2%, with southbound funds net buying over 28 billion, and government bond futures rising sharply.

Summary: Global financial markets experienced severe volatility, mainly influenced by Trump's tariff policies, leading to increased risk aversion, which caused sharp declines in stock markets, commodities, and the dollar, while U.S. Treasuries and various non-U.S. currencies surged. The cryptocurrency market was also not spared, with prices of mainstream cryptocurrencies like Bitcoin falling, and related incidents like FDUSD drawing market attention.

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