After President Donald Trump imposed tariffs on a number of important U.S. trading partners, sparking concerns that a full-scale trade war would disrupt global supply chains, rekindle inflation, and slow the economy, stocks fell at the beginning of February.
There was a 1.1% decrease of 458 points in the Dow Jones Industrial Average. The Nasdaq Composite fell 1.8%, while the S&P 500 took a 1.5% hit.
The increased tariffs had a risk-off effect that rippled around the world:
Germany’s Dax benchmark was down 1.7%, and major European share markets began to decline.
Bitcoin fell from about $102,000 before the weekend to about $95,000.
Ether had a 12% decline.
A gauge of the value of the US dollar relative to other currencies, the ICE U.S. Dollar Index, increased by 0.8%.
WTI crude oil surged 108% due to worries about the proposed tariffs causing supply disruptions in North America.
Source (CNBC)