Trump’s Tariff Threat Sparks Market Turmoil, Crypto Loses Billions

Uncertainty grips global markets as US President Donald Trump issued a warning about implementing a 100% tariff on Chinese imports. This announcement sent shockwaves through the financial world, particularly affecting cryptocurrency trading. As per CoinGlass analysis, investors liquidated over $19 billion in crypto positions within a single day, predominantly impacting long-term investments. Bitcoin and Ethereum experienced sharp price fluctuations, while broader market indices like the Nasdaq Futures fell into negative territory. The lack of reliable US economic data due to a government shutdown has further hampered investor sentiment.