Bitcoin and Dogecoin Dive, Solana Hits 13-Month Low as Trump Tariffs Shake Markets
Bitcoin fell below $82,000, dropping 5.8%, while Dogecoin fell 10% to approximately $0.157, as continued global market instability followed U.S. President Donald Trump's announcement of massive new tariffs on 185 countries. The tariffs, which include a baseline of 10% on all imports and larger rates for specific countries like China and the EU, caused immediate declines in both equity and cryptocurrency markets. Solana, the sixth-largest cryptocurrency, plummeted 12% to a 13-month low below $113. Investor sentiment turned sour, leading to the S&P 500 losing over $2 trillion in market cap shortly after the announcement. Futures traders began seeking protections against losses as concerns about retaliatory measures from other nations and potential impacts on economic growth emerged, furthering volatility. This market reaction reflects broader fears over inflation and economic stability following Trump's trade policies.
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