President Donald Trump’s tariff policies have caused significant impacts on US stock markets, leading to declines in indices and increased volatility in the cryptocurrency market.
Stock Market Situation
Since President Trump's election, the S&P 500 index has declined by 1%, while the Nasdaq 100 has dropped over 4%. The Dow Jones also showed considerable declines, losing 1,700 points in just 24 hours. These changes occur against the backdrop of new US tariffs against China, Canada, and Mexico.
Economic Consequences of Tariffs
Reacting to the new US tariffs, Canada and Mexico have imposed retaliatory tariffs on American goods, heightening trade tensions. Wall Street is concerned as these measures negatively impact the US economy. President Trump, however, believes tariffs may encourage domestic production.
Cryptocurrency Market and Tariffs
Amidst the tariffs, the cryptocurrency market also experienced significant fluctuations. Bitcoin, for example, lost 7.3% of its value in just 24 hours, and the total market capitalization of cryptocurrencies fell by 6.77%, erasing previous gains.
The US trade policies under President Trump continue to have substantial effects on the national and global economy, leading to both concerns and hopes for long-term changes.
