The Trump tariff storm sweeps the globe, market panic spreads, and the sell-off of risk assets intensifies.
After falling nearly 10% last week, US stock futures opened sharply lower on Monday, with the S&P 500 and Nasdaq futures at one point dropping over 5%.
The Asia-Pacific stock market also opened with heavy losses, as the Nikkei index plummeted 8.1%, the South Korean KOSPI index fell 5.14%, and the Chinese stock market opened down nearly 10%, experiencing the worst single-day crash since 2008.
The Hong Kong Hang Seng Index plummeted by 12%!
The Taiwan Weighted Index closed down 9.7%, setting a record for the largest drop in history!
Stock futures in the UK and Germany both fell by more than 4%!
The cryptocurrency market also suffered a heavy blow. Bitcoin plunged 8%, and Ethereum dropped by 15%! The total global cryptocurrency market capitalization shrank from $2.4 trillion to $2.16 trillion!
The commodities market also could not escape. Spot gold fell below the psychological barrier of $3000, hitting a low of $2971. US oil dropped to $59.80 per barrel, down 12% from last week's high, marking a new low since April 2021.
On this day of stock market crash, we quietly wait for the panic sell-off to end!
