4E: "Peer Tax" Much Higher Than Expected, US Stocks and Bitcoin Fall
20 hours ago
On April 3rd, as per 4E monitoring, Trump announced tariff retaliation last night. He adopted a dual-track system that combines "benchmark tariffs" with a "single-country single-rate" approach, and the tariff rates exceeded market expectations. Initially, the US stock market was optimistic as the 10% benchmark tariff was lower than expected, and the major indexes all closed higher. However, after the specific high tariff rates were announced, investors became concerned about the escalating global trade war risk, which could potentially drag the US economy into a recession. Panic selling occurred after hours, resulting in a sharp decline in stock index futures. At the time of writing, S&P 500 futures fell by more than 2.79%, Nasdaq futures dropped by more than 2.65%, and Dow Jones futures slipped by more than 1.9%.
The cryptocurrency market witnessed a widespread decline. Initially, driven by tariff optimism, global risk assets rose across the board. Bitcoin surged to $88,500 at one point. However, as more details emerged, market sentiment quickly reversed, and Bitcoin plummeted back to yesterday's low, returning to around $83,000, with a 24-hour drop of over 1.8%. Ethereum fell from $1,957 to below $1,800. Various sectors of the market generally showed a downward trend, with the Meme sector experiencing a significant decline.
In the foreign exchange and commodities sector, the US dollar fell by 0.65% throughout the day. During the US session, oil and gas prices rose one after another. After the tariff announcement, crude oil futures prices declined by 1.0%. Heightened risk aversion drove the gold price to hit a new high again. Spot gold in London touched $3,157, rising by about 0.7%.
After Trump announced comprehensive new tariffs on 185 countries, US stock index futures and major cryptocurrencies plunged significantly, causing global market turmoil and triggering widespread risk-off behavior. The scale and unpredictability of the tariffs have rapidly shifted investors' focus to macroeconomic headwinds, prompting a reassessment of the inflation trajectory, growth risks, and second-quarter policy responses.
As a financial trading platform supporting cryptocurrency, stock indices, gold, forex, and other assets, eeee.com recently launched a USDT stablecoin financial product with an 8% annualized return to provide investors with a potential hedging option. 4E reminds you to be aware of market volatility risks and to allocate your assets reasonably.
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