Bitcoin Plummets as U.S. Tariffs Increase, Stocks See Sharp Correction

President Trump has escalated tensions with China by announcing plans to impose additional tariffs of 50% on goods imported from the nation, escalating the existing 104% tariff rate imposed by the U.S. This move comes in response to China’s retaliatory tariffs. As a result, Bitcoin and global stocks witnessed significant downturns on Tuesday. While some relief was seen earlier this week following the initial market turbulence, the latest development has reignited fears of economic instability.