Markets plunged after Trump threatened to double China tariffs, dragging tech stocks sharply lower, while crypto saw massive liquidations in the wake of trade and dollar strength.

President Trump announced a 100% tariff increase on Chinese goods and tighter export controls on essential tech software, after China tightened rare-earth export rules. The move reignited trade war fears and sent markets tumbling.

The S&P 500 fell 2.7%, the Dow dropped 1.9%, and the Nasdaq plunged 3.6%. Tech names were among the hardest hit, especially semiconductors and AI-linked plays. Defensive sectors outperformed, but overall breadth was weak as sellers dominated.

Crypto markets were hit hard, over $6 billion in positions liquidated in under an hour. Bitcoin fell roughly 8%, heading toward $104,800. Ethereum and other altcoins also crashed, driven by forced sales and sweeping risk aversion.

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Trade Smarter

Today was a gut check for markets. Trade war threats pushed stocks off the cliff. Tech, once a driver, became a victim. And crypto’s plunge wasn’t pretty, liquidations hit hard. With policy, inflation, and trade all in play, things may get even uglier before they get better. Be defensive, watch your risk, and stay ready.