Trump Announces "Reciprocal Tariffs" New Policy Triggering Market Turmoil, Bitcoin Plunges! 170,000 Users Liquidated in 24 Hours

On April 7th: President Trump signed an executive order regarding the so-called "tariffs in kind" at the White House. He announced that the United States will impose a 10% "minimum benchmark tariff" on its trading partners. Additionally, a personalized and higher "tariff in kind" will be levied on countries with the largest trade deficit with the US. All three major stock indexes saw a decline of more than 5.5%, marking the largest single-day drop since 2000. The Dow plummeted by over 2000 points and entered a correction zone, while the Nasdaq fell into a bear market. In response to Trump's tariffs, many countries have already implemented or announced retaliatory measures. Investors are worried about a US economic recession due to Trump's tariff policy. The total market capitalization of the S&P 500 shrank by about $5.4 trillion in the past two days. Mainstream coins collectively experienced a "dive". Bitcoin witnessed a "rollercoaster" drop from a high of $88,000 and broke below the key $80,000 mark on Sunday. Meanwhile, the liquidation volume in the cryptocurrency market has shown explosive growth, with a total daily liquidation amount reaching $590 million as a storm is brewing in the cryptocurrency field. As the world's first multi-asset trading wallet, BiyaPay has now connected fiat and cryptocurrency instant exchanges, enabling participation in the US/Hong Kong stock markets with USDT. It offers spot/contract Maker with zero fees and B2C compliant withdrawal channels with secure unfrozen withdrawals, effectively avoiding the fund freeze risks in traditional OTC/C2C transactions.