Global Markets Plunge Amid Trade Tensions
April has brought a storm of volatility to global markets. U.S. stocks and cryptocurrencies have taken a hit due to rising trade tensions. The U.S. stock market has lost $9.6 trillion since January, with $5 trillion wiped out in just two days. This massive drop is the largest on record.
The Nasdaq Composite is nearing bear market territory, down over 20% from its December 2024 peak. JPMorgan Chase now sees a 60% chance of a U.S. recession. The cause? President Trump’s new 10% tariff on all imports. This move has hit tech-heavy exporters hard, especially those dealing with China, Taiwan, and Vietnam.
China responded with a 34% tariff on U.S.goods. Tech stocks are feeling the brunt. Apple’s stock fell 12.5% because of higher tariffs on Chinese imports. Tesla’s value plummeted 37%, facing political issues and falling sales. Other tech giants like Alphabet, microsoft, meta, Amazon, and Nvidia are also suffering. The tech sector is notably vulnerable, as many companies rely on thes regions for manufacturing.
Bitcoin (BTC) has seen a 1-2% dip but has since recovered to $83,263.
Bitcoin’s price has fluctuated between 1% and 2% in the past 24 hours.Though,it has as recovered and is now trading at $83,263.This dip coincided with China’s retaliatory tariffs and the broader market sell-off.
Despite the current downturn, some investors remain optimistic about Bitcoin’s prospects. Both short-term and long-term holders have increased their BTC positions since the start of April,signaling continued confidence in Bitcoin’s resilience amid customary market instability.
