Episode 395
📍 US President Donald Trump's 25% tariffs on Mexican and Canadian goods and 10% levies on Chinese imports have sent global markets tumbling, with Dow futures sliding 1.2% and crypto liquidations topping $2.1 billion.
📍 Bitcoin and Ethereum have plummeted 5% and 10% respectively, while Dogecoin and XRP are down 19% apiece, as traders expect significant turbulence when US markets open.
📍 Market observers warn that sustained trade tensions could significantly impact corporate profits and growth expectations, with higher interest rates potentially leading to a risk-off appetite, particularly for crypto.
📍 The tariffs may lead to increased inflation, which could dampen investor sentiment in crypto, with some analysts predicting a contraction for the digital asset sector over the next few quarters.
📍 Trump's tariffs have sparked swift retaliation from trading partners, with Canada imposing matching 25% tariffs on $155 billion of US goods and Mexico promising countermeasures.
