Global markets are experiencing a new wave of liquidations as President Trump’s latest tariffs shake up the economy.
The tariffs, which are broader than anticipated, have caused significant uncertainty and volatility in both traditional and digital asset markets.
Bitcoin’s price has dropped to $82,223 from a high of $87,790 in the last 24 hours, resulting in $518 billion in liquidations across the digital asset market, as reported by CoinGlass.
In after-hours trading, the Dow Jones Industrial Average has plummeted by over 1,000 points, S&P 500 futures are down 3.5%, and Nasdaq 100 futures have dropped by 4.2%.
President Trump has implemented a 10% tariff on all imported goods entering the US starting April 5th, with additional reciprocal tariffs on specific countries, including up to 54% on China, effective April 9th.
During a speech in the Rose Garden, Trump emphasized that the reciprocal tariffs aim to rectify unfair trade practices and promote economic fairness for the United States.
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Featured Image: Shutterstock/KDdesignphoto
