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4E: Concerns over tariff policies and economic recession rise, leading to declines in both the US stock market and the cryptocurrency market

ChainCatcher News: U.S. consumer confidence in February fell short of expectations, marking the largest monthly decline in over three years. Additionally, Trump's statement about imposing tariffs on imports from Canada and Mexico after the grace period has heightened market concerns about tariffs and economic recession.According to 4E monitoring, U.S. stocks saw more declines than gains on Tuesday, with the Dow Jones rising 0.37%, the S&P 500 falling 0.47%, and the Nasdaq dropping 1.35%. Most large tech stocks declined, with Tesla plummeting over 8.39%, bringing its market value below $1 trillion, followed closely by Nvidia, which fell 2.8%. A recent report from Goldman Sachs indicated that hedge funds are withdrawing from U.S. tech and media stocks at the fastest pace in six months, with the seven tech giants entering a technical correction zone.The cryptocurrency market had already led the decline ahead of U.S. stocks yesterday, with Bitcoin dropping to $86,050 at one point and Ethereum hitting a low of $2,313. The cooling of meme coin trends, along with the impending unlocking of a large number of tokens, caused SOL to experience the steepest decline, falling nearly 50% over the past month. Bitcoin spot ETFs saw a net outflow of $774 million yesterday, continuing a six-day streak of net outflows. The crypto market has remained sluggish since February, and the week started with another significant drop, with the Fear and Greed Index falling to 21, the lowest level since September of last year.In the forex market, consumer confidence data pressured the dollar, causing the dollar index to drop 0.2%, approaching a two-month low set on Monday. Market concerns about oil demand, coupled with potential peace negotiations in Russia, led to oil prices falling over 2%. After reaching new highs, investors took profits in gold, with spot gold dropping over 1.2%.A series of weak data recently suggests that the U.S. economy may be heading into recession. The S&P and Nasdaq have seen four consecutive declines, intensifying market worries about the impact of declining consumer confidence and tariff policies on the economy. Traders are generally maintaining a cautious stance, awaiting more economic data and policy guidance.
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