Trump tariffs trigger sell-off and stocks and crypto slide amid trade tensions
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The S&P 500 fell 4.84%, its steepest drop since 2020, after Trump announced sweeping new tariffs that sparked fears of global trade retaliation. Gold fell 0.85% to $3,106.99 after hitting a record $3,167.57, driven by profit-taking and margin calls amid Trump’s tariff-induced selloff. Analysts expect central banks to sustain its rally despite potential pressure by late 2025. The Coindesk Indices, which tracks the broader crypto market, are down by 1.46%, with Bitcoin and Ether down 5.77% and 4.34% respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.
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