Trump’s Tariff Threats Shake Markets: Stocks Drop, Bitcoin Falls, Gold Surges

In Brief:

Trump threatens 200% tariffs on EU alcohol, causing U.S. stocks to plummet and market turmoil.

Bitcoin briefly fell below $80,000, closing at $81,571 (-2.6%), while gold surged near $3,000 amid risk aversion.

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Trump’s aggressive trade stance, including a 200% tariff threat on European Union wine products, sent shockwaves through financial markets. The S&P 500 fell 1.39%, the Dow Jones dropped 1.30%, and the Nasdaq sank 1.96%, marking its fourth consecutive decline.

The crypto market followed suit, with Bitcoin briefly dropping below $80,000 before rebounding to $81,571 (-2.6%). Altcoins saw steep losses, and traders turned to contract trading amid weak market sentiment. Meanwhile, gold surged nearly 1.8%, approaching the $3,000 mark, as investors sought safe-haven assets.

Market participants remain cautious as inflation data suggests easing price pressures, but Trump’s trade policies continue to fuel uncertainty around the Federal Reserve’s rate-cut outlook.

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