😵😵Bitcoin and Stocks Soar as Trump Confirms 90-Day Pause on Tariffs—Except for China
In Summary, Trump announced a 90-day pause on the implementation of "reciprocal" tariffs for most countries, excluding China. The price of Bitcoin rose 4.6% to $81,300, Ethereum increased by 6.1%, and XRP jumped 10% following the announcement. Wall Street responded strongly: the S&P 500 and the Dow rose more than 5%, and the Nasdaq climbed over 8%. Chinese products now face tariffs of 125%, while China responded with levies of 84% on American products.
The President of the United States, Donald Trump, said on Wednesday that he would allow a 90-day pause on the implementation of "reciprocal" tariffs against most countries, which caused cryptocurrency and stock prices to soar immediately afterwards.