Global Markets Plummet on Trump Tariff Hike

Global markets experienced a significant downturn on Monday as President Donald Trump's decision to raise the global tariff rate to 15% sent shockwaves through both crypto and traditional markets.

The move, which followed a Supreme Court ruling that struck down Trump's earlier emergency trade measures, saw Bitcoin plummet to $64,300 before recovering to around $65,600. The losses were widespread, with major cryptos such as Ether, XRP, Solana, Dogecoin, and BNB all posting significant declines.

US stock futures also slid on Monday morning, with Dow Jones futures falling 0.4%, S&P 500 futures dropping 0.5%, and Nasdaq 100 futures declining around 0.7%. The downturn was attributed to renewed trade tensions and uncertainty surrounding Trump's tariff response.

The situation remains fluid, with markets left grappling with the implications of Trump's decision. As a result, investors remain cautious, and market sentiment is likely to remain uncertain in the coming days.