Trump's new tariffs have cornered the markets.

On Wednesday, U.S. President Donald Trump announced new tariffs covering 185 countries. He stated that a base tariff of 10% will be applied to all imports, with additional tariffs of 34% on China and 20% on the European Union. These announcements led to sharp sell-offs in global markets.

S&P 500 lost 2 trillion dollars in market value in just 15 minutes. Nasdaq 100 futures fluctuated by 900 points. Dow Jones fell by 1.8%, S&P 500 by 2.7%, and Nasdaq 100 by 3.3%. Similar declines were observed in Asian markets as well. Japan's Nikkei dropped by 2.9%, South Korea's Kospi by 1.7%, and Australia's ASX 200 by 1.2%. Major companies like Nike, GM, and Nvidia experienced sharp declines in their stock prices.

Cryptocurrencies also accompanied the decline. Bitcoin (BTC) fell 2.3% to $83,000 and Ethereum lost 4.5% to $1,817.

The U.S. business world reacted strongly to Trump's decision. The 34% tax on products coming from China was particularly criticized. The National Restaurant Association stated that this decision would put businesses in a difficult position, while the National Association of Manufacturers emphasized that high costs would reduce competitiveness. According to Yale University, a 20% general tax could cost U.S. citizens $3,400 a year. The Consumer Technology Association described these taxes as "significant tax increases" and issued a recession warning.

On the other hand, as the price of gold per ounce reached a record high of $3,167, investors turned to safe havens to avoid risk.

What happened on the futures trading front?

After Trump's statements, the futures markets were also under intense pressure. U.S. stock futures lost more than 2% during the Asian session. This indicates that investors are likely to adopt a risk-off approach throughout the week. S&P 500 futures contracts fell by 2.3%, while the Nasdaq 100 declined by 2.7%. This situation shows that investors are starting to reassess the growth outlook.

A similar pricing trend is observed on the crypto side as well. Bitcoin futures contracts are showing signs of weakening in terms of both volume and open interest. In options, the June futures downward positions are noteworthy, while the expectation of volatility appears to be increasing. The market seems to be preparing for more selling pressure in the short term.

Sharp fluctuations in the crypto market

The mutual tariffs announced by Trump as part of "Liberation Day" have directly affected not only traditional markets but also crypto assets. In the last 24 hours, there has been an outflow of 64 billion dollars from the crypto market, causing the total market value to drop to 2.67 trillion dollars. Despite Bitcoin attempting to break the 89,000 dollar mark during the day, it couldn't surpass this level and has been trying to hold just above the 82,503 dollar support.

On the other hand, the memecoin launched by Trump, OFFICIAL TRUMP (TRUMP), became the worst-performing crypto asset of the day, experiencing a loss of 10.18%. The price of TRUMP fell to its lowest level in the last three months, seeing $8.97.

This article does not contain investment advice or recommendations. Every investment and trading move carries risks, and readers should conduct their own research when making decisions.