Global Markets Tumble as US Stocks Plummet Amid Tariff Rumors

Global financial markets experienced a downturn on April 7th as US equities plummeted by over 3%, wiping out more than $2 trillion in value upon market open. The S&P 500 dropped by 2.79%, officially entering a bear market after a 20% decline from its recent highs. Rumors of a potential 90-day tariff pause, circulated on the social media platform X, fueled this initial sell-off. Bitcoin (BTC) price also surged above $80,000 following the news before the White House confirmed the rumor was unfounded.