Trump Tariffs Shock Markets

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Hey crypto trailblazer, 👋

Markets got rocked. Trump’s sweeping tariff orders sent U.S. stocks into a tailspin and dragged Bitcoin down with them. Let’s unpack what happened.

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🌍 Tariff Shock: Wall Street Reels

On August 1, President Trump signed an executive order imposing wide-ranging new tariffs (10% to 41%) on exports from 66 countries, including Canada, Brazil, India, Taiwan, and South Africa. Markets quickly reversed, posting their worst day in months.

Major indices slid hard:

• Dow dropped 1.3% (~573 points)

• S&P 500 fell 1.6%

• Nasdaq lost 2.2%

Volatility surged. Payroll numbers were revised downward. Geopolitical tension added pressure. Tech and consumer sectors led the sell-off, and Coinbase cratered 15.6% on weak earnings.

Why this matters for crypto: Macro risk-off sentiment hit equities and digital assets alike. Investors are jittery, and with the Fed still posturing hawkishly, another rate decision could shake things up even more.

📉 Bitcoin Dips

Bitcoin tumbled, briefly dipping to just under $112,000, as fear spread from Wall Street to crypto. More than $630 million in long positions were liquidated in one day.

By 7:45 pm PT on August 2nd, Bitcoin recovered to $113,400.

The takeaway: BTC didn’t escape the carnage. As traders dumped risk assets, crypto got caught in the crossfire. But with a price of $113K, Bitcoin remains very strong.

Stay epic,
Epic Crypto News Team

DISCLAIMER: This newsletter is for educational purposes only. Nothing here is financial advice. Do your own research before making any investment decisions. Crypto markets are volatile and risky. Only invest what you can afford to lose.