The US stock market has crashed, dragging down the cryptocurrency market

On August 1, local time, all three major US stock indices fell. As of the time of writing, the Dow Jones fell by 1.6%, the Nasdaq fell by over 2.3%, and the S&P 500 index fell by over 1.8%. Over 4,500 stocks in the market declined.

On July 31, President Trump signed an executive order imposing 'reciprocal tariffs' ranging from 10% to 41% on multiple countries and regions, postponing the effective date from August 1 to August 7.

In addition to the 'reciprocal tariffs', Trump has previously announced that he will introduce separate tariffs on pharmaceuticals, semiconductors, critical minerals, and other important industrial products in the coming weeks, indicating that the risk of trade uncertainty is likely to persist. Meanwhile, US courts are also evaluating the legality of the 'reciprocal tariffs' themselves.

Amazon's market value evaporated by over a trillion yuan

The dollar collapsed, gold prices skyrocketed, and oil prices plummeted

On August 1, the seven tech giants in the US stock market all plunged, with Amazon at one point falling over 7%, resulting in a market value loss of $178 billion (approximately 1.28 trillion yuan), Nvidia falling over 3%, losing over $140 billion in market value (approximately 1 trillion yuan), and Meta, Tesla falling over 2%, Google, Microsoft, and Apple all declining.

The narrative has returned to the fear dominated by tariffs, patiently waiting.