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Tariffs announcement: Current US president Donald Trump introduced a universal 10% tariff on imports and higher specific rates for countries like China and Japan, signaling a major shift in US trade policy.
Market reaction: Following the announcement, traditional markets saw significant declines, with the S&P 500 and Nasdaq Composite dropping over 5%, reflecting investor fears of economic instability.
Risk of trade war: Critics warn that the aggressive tariff strategy could provoke retaliatory actions from other nations, leading to a trade war detrimental to global markets.
Investor sentiment: The cryptocurrency community remains cautiously optimistic, as Bitcoin's performance amidst market turmoil indicates a potential shift in investor perception.
Bitcoin stability: Bitcoin showed resilience, trading at around $81.7K, suggesting it may be viewed as a hedge against geopolitical and economic uncertainties.