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4E: Trump threatens to impose high tariffs on EU alcoholic beverages, US stocks and Bitcoin decline, gold hits a new high

ChainCatcher news, Trump threatens to impose a 200% tariff on EU alcoholic products and firmly states that he will not "compromise" on tariffs against Canada, insisting on implementing the tariff plan on April 2, causing market turbulence. According to 4E monitoring, U.S. stocks collectively plummeted on Thursday, with the S&P 500 index closing down 1.39%, the Dow Jones down 1.30% marking four consecutive declines, and tech giants dragging the Nasdaq down 1.96%.After a brief recovery, the cryptocurrency market fell again last night due to the drag from U.S. stocks, with Bitcoin briefly dipping below the $80,000 mark. It only rebounded after the U.S. stock market closed, reaching $81,571 at the time of writing, a 24-hour decline of 2.6%. Altcoins crashed, on-chain activity was bleak, and amid the ongoing sluggish market, interest in contract trading has risen.In the forex commodities sector, February PPI growth was below expectations, pushing the dollar index up 0.2%; Russia agreed to a 30-day ceasefire, and a U.S.-Russia agreement may revive Russian oil and gas supplies, with U.S. crude oil closing down nearly 1.7%; driven by Trump's tariff threats and market risk aversion, spot gold surged nearly 1.8% to refresh its historical high, approaching $3,000.Wednesday's CPI and Thursday's PPI together indicate that inflationary pressures in the U.S. are easing, but the market generally believes this is insufficient to trigger a significant rebound. Trump's trade policies remain a key factor suppressing investor sentiment, casting doubt on the future interest rate path of the Federal Reserve, with the market still maintaining expectations for three rate cuts this year.

South Korea plans to issue new guidelines in the third quarter to lift the ban on institutional investment in cryptocurrencies

According to ChainCatcher, The Block reported that South Korea's financial regulatory agency announced on Wednesday plans to release comprehensive guidelines for institutional cryptocurrency investment in the third quarter. The Financial Services Commission made this announcement during a meeting with local cryptocurrency industry experts. While the investment guidelines for listed companies and professional investors are expected to be issued in the third quarter, the Financial Services Commission stated that its goal is to launch investment guidelines for non-profit organizations and cryptocurrency exchanges in April.The Financial Services Commission first announced in January that it would gradually lift the de facto ban on institutional investors investing in cryptocurrencies. Last month, the regulator revealed that it intends to first allow charities and universities to sell their cryptocurrency assets in the second quarter. The upcoming detailed guidelines further solidify South Korea's shift in stance towards cryptocurrencies, no longer strictly opposing the entry of crypto assets into traditional financial markets.Meanwhile, the Financial Services Commission has also begun developing a second set of rules for a two-part cryptocurrency regulatory framework, with the first set of rules launched last year. The second part of the cryptocurrency law will focus on stablecoins and regulating cryptocurrency business owners.
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