Title: New Tariffs Spark Market Turmoil, Crypto Sees $2B Sell-Off 😱
The U.S. imposed new tariffs—25% on Canadian and Mexican goods and 10% on China—triggering swift retaliation from Canada and expected responses from Mexico.
Treasury yields bear-flattened, signaling inflation concerns and long-term trade war risks. A widening NY-London gold basis suggests logistical challenges in moving gold.
Global equities fell, gold dipped, oil spiked, and crypto saw $2 billion in liquidations, with ETH suffering more than BTC. The sell-off appears driven by cross-asset portfolio rebalancing rather than a single-asset event. Market volatility is expected to persist as Trump prepares to negotiate with Canada and Mexico while signaling impending tariffs on the EU.
What do you think? 🤔
If you enjoy my content, feel free to follow me ❤️