Market Uncertainty Grows as Trump Imposes Tariffs

In a dramatic turn of events, Bitcoin fell below the $98,000 mark on Sunday. This significant drop comes in the wake of US President Donald Trump's decision to impose tariffs on Mexico, Canada, and China, with the European Union potentially next in line. The move has sent ripples through the global markets, increasing uncertainty among investors.

Retaliatory Measures Announced

In response to Trump's tariffs, China, Canada, and Mexico have announced retaliatory measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also voiced criticism against Trump's decision, warning of firm retaliation should European exports be targeted.

Impact on Cryptocurrency Markets

At 12:26 pm ET, Bitcoin was down by 3.05%, trading at $97,512. Shortly after, Ethereum experienced a 3.60% decrease, selling for $3,003. The cryptocurrency market's reaction highlights the broader implications of trade tensions on global financial stability.