Market Volatility and Tariff Rumors
It has been an incredibly tumultuous ninety minutes in the financial markets, with the Nasdaq experiencing dramatic fluctuations. Initially, the index plummeted nearly 5%, only to rebound to a 5% gain, before ultimately returning to a neutral position. This rollercoaster ride was triggered by a report—subsequently denied by the White House—that President Trump was contemplating a ninety-day postponement of his tariff policy for all countries, excluding China. In response to the speculation, White House Press Secretary Caroline Leavitt dismissed the rumor as “fake news.”
This volatility spilled over into the cryptocurrency market as well. Bitcoin (BTC) surged from approximately $74,400 to over $80,000, before retracting to around $79,000. Despite this fluctuation, Bitcoin is still down by 4.3% over the past 24 hours. Similarly, Ethereum (ETH) has seen a significant decline, dropping more than 11%, while XRP has experienced a downturn of 9.3%.
Amidst the prevailing market anxiety, there are glimmers of hope. Ursula von der Leyen, the European Union Commissioner, stated, “Europe is ready to negotiate with the U.S.,” suggesting the possibility of offering zero tariffs in exchange for zero tariffs on industrial goods. This could pave the way for improved trade relations.
Meanwhile, President Trump has asserted that “Countries from all over the world are talking to us,” indicating that Japan is dispatching a “top team” to engage in negotiations, which could signal a potential thaw in trade tensions.
