4E: Trump's tariffs hit the market hard, and the US stock and crypto markets plummeted

Here is the English translation: On Monday, March 4th, Trump confirmed that the tariffs on Mexico and Canada will take effect on March 4th, emphasizing that there is no more 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%, recording the largest intraday decline this year, and the Nasdaq falling 2.64%, wiping out the gains since the November election. Tech stocks led the decline, with Nvidia plunging 8.69%, reaching the lowest closing price since September 2024. The cryptocurrency market followed the US stocks and plummeted. On Sunday, Trump posted a message to promote the national cryptocurrency reserve, causing the market to surge collectively, with Bitcoin briefly touching $95,000, but then retreating and fluctuating lower as the market questioned Trump's strategic reserve tilting towards Altcoins and the existence of "advertising slots". On Monday, as the tariff threat materialized, the hope of a last-minute tariff agreement between the US, Mexico, and Canada was shattered, and the market plunged 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 the tariffs and weak US economic data, the US dollar index weakened and fell 1%; Trump's pressure took effect, and OPEC+ unexpectedly announced a production increase starting in April, causing oil prices to plummet, with US oil falling nearly 2%; the weakening of the US dollar and tariff concerns resonated, and spot gold fluctuated higher 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-averse sentiment has risen, leading to a sharp decline in US stocks and cryptocurrencies, and a rise in US Treasuries and gold prices. As a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets, 4E has recently launched an 8% annualized yield USDT stablecoin wealth management product, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.