"Jerome Powell is always late and always wrong," Trump said.
"The ECB is expected to cut interest rates for the seventh time, while the Fed's Jerome Powell, whom I call 'the eternal laggard' because HE IS ALWAYS LATE AND ALWAYS WRONG, released another typically chaotic report yesterday—a complete disaster!"
"The 'eternal laggard' should have cut interest rates, like the ECB did, long ago, but he surely must do it now."
#PowellRemarks Powell said that it is still possible to lower rates this year if inflation continues to ease. This benefited the markets because it keeps the hope of cuts alive, which boosts stocks and bonds.
Significant Bitcoin$BTC Drop: Bitcoin fell to around $74,000, its lowest level in 2025, due to global economic uncertainty and new U.S. tariff policies.
Partial Recovery: Bitcoin# later rebounded to about $84,000, though the market remains highly volatile.
Altcoins also hit: Ethereum $ETH and Solana$SOL saw drops of up to 12% in a single day.
🌍 Global Impact
Traditional markets affected: Global stock markets also dipped due to new U.S. tariffs, increasing risk aversion among investors.
The Trump administration has re-implemented tariffs, leading to a sharp change in financial market sentiment. European stock markets fell in parallel, with Germany's DAX index dropping by more than 3%, crude oil prices plummeting by 6.6% in a single day, and the U.S. dollar index recording its largest intraday drop since 2005. The market volatility index (#VIX ) surged by 40% and surpassed the 30 mark, while the net leverage ratio among hedge funds fell to its lowest level in three years. Additionally, cryptocurrencies joined the global decline. On April 7, BTC briefly fell below $75,000 during the day, a drop of 30% from its peak of $108,000, while #ETH $ETH experienced a significant decline, dropping more than 15% at one point, falling below $1,420, reaching a level not seen since October 2023.
In nearly 50 years, the U.S. stock market has experienced multiple bear markets, each leaving a profound impact on the economy and its investors. Analyzing the history of U.S. stock bear markets over the past half-century offers valuable insights into the harsh realities of the market and provides lessons for the future.