{"id":20804,"date":"2025-04-06T15:32:09","date_gmt":"2025-04-06T15:32:09","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20804"},"modified":"2025-04-06T15:32:09","modified_gmt":"2025-04-06T15:32:09","slug":"trump-tariffs-day-4-sp-500-closes-worst-week-since-covid-tech-giants-bleed","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20804","title":{"rendered":"Trump Tariffs Day 4: S&P 500 Closes Worst Week Since COVID, Tech Giants Bleed"},"content":{"rendered":"
\n

It\u2019s the fourth day after US President Donald Trump\u2019s announcement of retaliatory tariffs on April 2nd, the so-called \u201cLiberation day.\u201d Stock markets across the world are tanking in what seems to be clear anticipation of an extended international trade war.<\/p>\n

Trump Slaps 10% Tariffs on\u00a0All\u00a0<\/em>Countries<\/h2>\n

As\u00a0CryptoPotato\u00a0<\/em>reported<\/a> on April 2nd, Donald Trump\u2019s tariffs were imposed on literally\u00a0all\u00a0<\/em>countries at a rate of 10%, with some of them facing even higher rates.<\/p>\n

China faces 34%, Vietnam \u2013 46%, Japan \u2013 24%, while the European Union was hit with 20% tariffs. Describing these as \u201creciprocal,\u201d Trump has stated that the new taxes are needed to wipe out an existing deficit between the US and the rest of the world.<\/p>\n

What is more, imports will also be facing both the universal tariff of 10%, including the specific reciprocal import levies targeting each individual nation.<\/p>\n

International response was just as quick, with China announcing<\/a> import taxes of 34% themselves, while also curbing\u00a0exports\u00a0<\/em>of critical minerals and blacklisting American companies, while altogether saying that the actions of the US President are a form of \u201cbullying,\u201d as well as a violation of international trade rules.<\/p>\n

Tension between the US and other countries is also escalating, although many of them have chosen not to retaliate in hopes of negotiating better deals. Maro\u0161 \u0160ef\u010dovi\u010d, the trade commissioner for the European Union confirmed a \u201cfrank\u201d exchange with US representatives, saying<\/a>:<\/p>\n

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\u201cThe EU is committed to meaningful negotiations, but also prepared to defend our interests. [\u2026] We stay in touch.\u201d<\/p>\n<\/blockquote>\n

Global Markets Plunge, Tech Giants Take a Beating<\/h2>\n

The stock market\u2019s reaction came immediately, as major indices took a beating on April 2nd, which worsened as the week went by.<\/p>\n

Ultimately, on Thursday and Friday alone, the stock markets saw over $5 trillion in market cap erased, closing the worst week since the COVID crash.<\/p>\n

The S&P 500, for instance, lost over 6%, while the Dow Jones Industrial Average and Nasdq 100 \u201cended in a bear market,\u201d as reported<\/a> by the\u00a0Business Insider.\u00a0<\/em><\/p>\n

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S&P 500 Heatmap. Source: Finviz<\/figcaption><\/figure>\n

As seen in the chart, no sector was spared and tech giants such as Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), and so forth, all charting massive losses.<\/p>\n

Bitcoin Hangs on, Defies Expectations<\/h2>\n

For most parts during the past few months, turmoil across traditional stock markets also reflected in Bitcoin\u2019s price, which was moving more or less hand in hand.<\/p>\n

This seems to have changed, at least for the past seven days. Amid the massive drawdown, Bitcoin has remained steady, charting a mild decrease of 0.3% for the past\u00a0seven\u00a0<\/em>days, according to data from CoinGecko.<\/p>\n

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Source: CoinGecko<\/figcaption><\/figure>\n

As\u00a0CryptoPotato\u00a0<\/em>reported<\/a> earlier, many industry experts noted the detachment of the BTC price from traditional assets, with some of them even stating that it might be on the verge of noting gains in the coming weeks.<\/p>\n

\u201cBTC positive divergence from gold and risk in past 24 hours is striking. Haven\u2019t seen it to this extent in a long time,\u201d wrote MacroScope.<\/p>\n

The post Trump Tariffs Day 4: S&P 500 Closes Worst Week Since COVID, Tech Giants Bleed<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

It\u2019s the fourth day after US President Donald Trump\u2019s announcement of retaliatory tariffs on April 2nd, the so-called \u201cLiberation day.\u201d Stock markets across the world are tanking in what seems to be clear anticipation of an extended international trade war. Trump Slaps 10% Tariffs on\u00a0All\u00a0Countries As\u00a0CryptoPotato\u00a0reported on April 2nd, Donald Trump\u2019s tariffs were imposed on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20804","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20804"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20804\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}