Trump

4E: Trump's tariffs hit the market hard, U.S. stocks and cryptocurrency markets plummet

ChainCatcher news, on Monday Trump confirmed that the tariffs on Mexico and Canada will take effect on March 4, emphasizing that there is no room for negotiation with the two countries, causing heightened market panic. According to 4E monitoring, the three major U.S. stock indices collectively closed lower, with the Dow Jones down 1.48%, the S&P 500 down 1.76%, marking the largest decline of the year, and the Nasdaq down 2.64%, erasing gains since the November election. Tech stocks led the decline, with Nvidia plummeting 8.69%, hitting the lowest closing price since September 2024.The cryptocurrency market followed the U.S. stock market with a significant drop. On Sunday, Trump posted about promoting a national cryptocurrency reserve, causing a collective surge in the market, with Bitcoin briefly reaching $95,000, then pulling back, and fluctuating lower amid market skepticism about Trump's strategic reserve leaning towards altcoins, raising concerns about "advertising space." On Monday, as the tariff hammer was raised, hopes for a last-minute tariff agreement between the U.S. and Mexico/Canada were dashed, leading to another market plunge. By the time of writing, Bitcoin had dropped 10.49% to $83,384, below the level before Trump's tweet, while Ethereum fell 16.83% to $2,038, hitting a new low.In the forex commodities sector, with tariffs looming and weak U.S. economic data, the dollar index softened, falling 1%; Trump's pressure proved effective as OPEC+ unexpectedly announced plans to restore production increases starting in April, leading to a sharp decline in oil prices, with U.S. oil down nearly 2%; the weakening dollar resonated with tariff concerns, causing spot gold to fluctuate upward throughout the day.Previously, the market had hoped that Trump's threats regarding tariffs on Mexico and Canada were merely bluster, but with confirmation, the trade war situation has intensified. Additionally, U.S. manufacturing activity growth in February approached stagnation, adding signs of stagflation to the economy. Investors are worried about tariffs and the economy, leading to heightened risk aversion, with U.S. stocks and cryptocurrencies plummeting, while U.S. bonds and gold prices rose.4E, as a financial trading platform supporting assets such as cryptocurrencies, stock indices, bulk gold, and forex, recently launched a USDT stablecoin financial product with an annualized return of 8%, providing investors with a potential hedging option. 4E reminds you to be aware of market volatility risks and to allocate assets wisely.

The concept coins in the United States are experiencing significant volatility, and the trading volume of tokens like ADA has surged

ChainCatcher news, in the past 24 hours, the prices of American concept coins have shown an overall downward trend, but trading volume continues to grow. According to MEXC data, $ADA has been active, with the number of spot traders increasing by 409% month-on-month and the number of contract traders increasing by 259%; in terms of trading volume, spot trading has increased by 410% month-on-month, and contracts have increased by 913%.Meanwhile, the trading enthusiasm for $XRP remains strong, with the number of spot traders increasing by 129% month-on-month and contracts increasing by 88%; in terms of trading volume, spot trading has increased by 205% month-on-month, and contracts have increased by 142%. On March 2, Trump made a statement regarding cryptocurrency reserves, announcing that his digital asset executive order has instructed the presidential task force to advance a crypto strategic reserve plan that includes XRP, SOL, ADA, BTC, and ETH, to "ensure that the United States becomes a global crypto hub."This statement ignited market enthusiasm, leading to rapid fluctuations in the prices and trading volumes of related assets. As market sentiment gradually stabilizes, the prices of American concept coins have experienced a pullback, but the trading enthusiasm in the market has not completely faded, and investors are still closely monitoring the further impact of U.S. policies on the crypto market.
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