Shocking Trump Tariff Bombshell Crashes Crypto Markets Bitcoin Sinks, Stocks Tumble, and Gold Surges!
Donald Trump’s latest tariff threat against China has sent shockwaves through global financial markets, triggering a dramatic slide in cryptocurrencies, stocks, and a rush towards gold. On October 10th, President Trump shook things up with a bombshell announcement: the US will slap a “massive” 100% tariff hike on Chinese imports in response to Beijing’s crackdown on rare-earth exports vital for tech and defense.
Crypto Meltdown: Bitcoin, Ethereum, and Solana Dive
The biggest jolt? Bitcoin (BTC) plummeted below $117,000 within hours, erasing gains from its record-breaking week. Ethereum (ETH) lost momentum and crashed under the $4,000 mark, while Solana (SOL) is now teetering close to $200. The pain didn’t stop at digital coins crypto stocks like Coinbase, Robinhood, and MicroStrategy were hammered, plunging 5-10% in a single session as investors bailed on risky assets across the board.
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Markets Panic: Stocks Down, Gold Up
Trump’s tariff news revived fears of a trade war déjà vu, reminding investors of the April 2 “Liberation Day” tariff shock. Wall Street went into full-blown panic mode. The S&P 500 tanked 2.71%, the Dow Jones tumbled by 900 points, and the Nasdaq Composite suffered its worst hit with a 3.56% daily loss.
If anything soared, it was gold up over 1% for the day. The yellow metal proved, once again, to be the ultimate safe-haven while crypto failed to shield against this geopolitical storm.
Government Gridlock Stalls Crypto Regulation
Adding to the turmoil, the US government shutdown is dragging into its tenth day. Regulators like the Securities and Exchange Commission (SEC) are hobbled by staff shortages, paralyzing reviews of crypto-related filings. The SEC confirmed that crucial approvals and decisions are stalled until Washington gets its act together and funding is restored.
Trade Tensions, Shutdown, and Tumbling Oil Prices
With Trump doubling down on trade barriers and Washington mired in a long-running budget standoff, markets have completely flipped to “risk-off” mode. Gold’s rally was joined by oil’s collapse prices slumped to a five-month low as uncertainty gripped investors. The powerful combination of escalating US-China tensions, political gridlock, and regulatory paralysis is rattling both traditional and digital finance.
Keywords: Trump China Tariffs, Bitcoin Crash, Crypto Market News, US-China Trade War, SEC Shutdown, Gold Prices, Stock Market Fall
