Crypto Market Plunges $125 Billion After Trump Announces Trade War Warning to China

Digital asset markets experienced a significant decline, losing nearly $125 billion in value Friday after President Donald Trump announced plans to impose substantial tariffs on Chinese imports and canceled a scheduled meeting with President Xi Jinping. The selloff, which started around 10:57 AM Eastern Time, saw Bitcoin and Ethereum plunge as institutional investors shifted away from risk assets due to renewed trade tensions between the world’s two largest economies.