Forget stocks, crypto is the big loser right now – Tom Stelzer
Friday may have been the biggest one-day decline for the S&P 500 since Trump’s last big tariff volte-face sent stocks tumbling in April, but the bigger story was happening elsewhere.
After Trump threatened 100% tariffs on Chinese goods on social media on Friday, markets went into meltdown, but none more so than the crypto markets.
Where the S&P 500 fell 2.7% and the Nasdaq Composite fell 3.6%, Bitcoin (BTC) dropped around 10% (and more on certain trading platforms) in half an hour.
But that was just the tip of the iceberg. More than US$300 billion was wiped off the total market capitalisation of the crypto markets.
Some of the…
