According to ChainCatcher's message, on Monday, Trump confirmed that tariffs on Mexico and Canada will take effect on March 4, emphasizing that there is no room for negotiation with the two countries, and market panic sentiment has risen. According to 4E monitoring, the three major US stock indexes collectively fell, with the Dow Jones falling 1.48%, the S&P 500 index falling 1.76%, the largest intraday decline this year, and the Nasdaq falling 2.64%, wiping out the gains since the November election. Technology stocks led the decline, with Nvidia plunging 8.69%, the lowest closing price since September 2024.
The cryptocurrency market followed the US stock market and fell sharply. On Sunday, Trump posted a message to promote the national Altcoin reserve, and the market collectively surged, with Bitcoin briefly touching $95,000, but then retreated and fluctuated lower due to doubts about Trump's strategic reserve tilting towards Altcoins and the "advertising position". On Monday, as the tariff stick was raised, the hope of the US and Mexico-Canada reaching a last-minute tariff agreement was shattered, and the market fell again. As of the editorial deadline, Bitcoin fell 10.49% to $83,384, lower than the level before Trump's tweet, and Ethereum fell 16.83% to a new low of $2,038.
In the foreign exchange and commodity markets, with the approach of tariffs and weak US economic data, the US dollar index fell 1%; Trump's pressure took effect, OPEC+ unexpectedly announced a resumption of production increases from April, and oil prices fell sharply, with US oil falling nearly 2%; the weakening of the US dollar and tariff concerns resonated, and spot gold fluctuated upward throughout the day.
Previously, the market had hoped that Trump's threat of tariffs on Mexico and Canada was just a show of force, but now that it has been confirmed, the trade war situation has escalated. In addition, US manufacturing activity growth in February was close to stagnation, adding recessionary signals to the economy. Investors are concerned about tariffs and the economy, and risk aversion sentiment has risen, leading to a sharp decline in US stocks and cryptocurrencies, and a rise in US Treasuries and gold prices.
4E, as a financial trading platform that supports Altcoins, stock indexes, bulk gold, foreign exchange and other assets, has recently launched an 8% annualized yield USDT stable coin wealth management product, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.
