4E: Tariff escalation triggers a new round of sell-offs, U.S. stocks and cryptocurrency markets decline
ChainCatcher news reports that according to 4E monitoring, as the "peer tariff" policy approaches its effective date, Trump signed the latest executive order on Tuesday, raising tariffs on China to 104%, causing global markets to plunge into a panic sell-off once again.The three major U.S. stock indexes surged in early trading due to optimistic expectations for trade negotiations, with the Nasdaq and S&P 500 both rising over 4%. However, following the tariff news, market sentiment reversed, and gains quickly evaporated, turning into declines. By the close, the Nasdaq fell 2.15%, the Dow dropped 0.84%, and the S&P 500 decreased by 1.57%. The index of the seven tech giants fell over 2.3%, oscillating downward throughout the day, with losses narrowing towards the end.The cryptocurrency market followed the U.S. stock market down again, with Bitcoin dropping from last night's high of 80,000 to a low of 74,620, nearing a new low, and reporting at 76,053 before the deadline, down 5.8% in 24 hours. The altcoin market generally suffered heavy losses, particularly in the meme and AI sectors, with the market in a state of extreme panic.In the forex commodities sector, the U.S. dollar index halted its two-day winning streak, falling about 0.3%, while safe-haven demand drove the yen and Swiss franc higher; crude oil fell for four consecutive days, hitting a new low in four years; spot gold showed a trend of rising and then falling throughout the day, retreating above the psychological level of 3,000 dollars.The market generally believes that the extremely high tariff of 104% has escalated the U.S.-China trade war to an unprecedented level of intensity. The market is closely watching the subsequent actions of both the U.S. and China, as well as whether other countries will be drawn into a broader trade conflict. In the short term, the market may continue to be shrouded in high uncertainty.