In just a short span of ninety minutes, the markets experienced an unprecedented swing as the Nasdaq shifted from a staggering 5% loss to a 5% gain, only to ultimately stabilize around the neutral mark. This volatility was triggered by a report, which was later refuted by the White House, suggesting that President Trump was contemplating a ninety-day delay on the imposition of tariffs across all countries, excluding China.
The response from the White House was swift, with Press Secretary Caroline Leavitt dismissing the report as “fake news.” This dramatic back-and-forth not only shook financial markets but also extended its influence into the world of cryptocurrencies.
Bitcoin (BTC) was notably affected, surging from approximately $74,400 to soar above $80,000 before receding to around $79,000, marking a 4.3% decline in the past 24 hours. Ether (ETH) suffered even greater losses, showing a decrease of over 11%, while XRP dropped by 9.3%.
Despite the chaos, there are indications of potential recovery. European Union Commissioner Ursula von der Leyen announced that “Europe is ready to negotiate with the U.S.,” which includes a proposal for zero-for-zero tariffs on industrial goods. This proactive approach hints at a possible easing of trade tensions that have been weighing on the markets.
Meanwhile, President Trump engaged with the ongoing discussions, stating that “countries from all over the world are talking to us,” and highlighted Japan’s commitment by sending a “top team” to negotiate further. While the future remains uncertain, these diplomatic overtures could offer a glimmer of hope amid the prevailing market fluctuations.
