The U.S. and China have initiated a trade war with mutual tariffs. This follows the U.S. decision to impose a 10% tariff on Chinese goods, with China responding in kind. Meanwhile, the U.S. labor market is slowing, and Bitcoin prices are dropping.
The U.S.-China Trade War
The trade war between the U.S. and China officially began with a 10% tariff on Chinese goods. In response, China imposed tariffs on U.S. goods and launched an antitrust investigation against Google. China is currently adopting a more cautious approach compared to Trump's first term.
U.S. Labor Market Slows Down and Stock Market Reaction
Recent data on U.S. job vacancies indicate a slowdown in the labor market. The December report showed 7.6 million open positions, below expectations. The stock market responded positively as investors 'bought the dip', which contributed to higher stock prices. Meta experienced a record 12-day gain streak.
Bitcoin Drops but Market Share Rises
Bitcoin fell below $100,000, hitting a low of $96,150. However, its market dominance has increased to 61%, indicating a shift of funds from altcoins to Bitcoin, as investors favor more established cryptocurrencies.
The U.S.-China trade war has significant implications for the global economy. The slowing U.S. labor market and volatility in the cryptocurrency market illustrate global economic shifts. Investors continue to adapt to new conditions.
