Trump's Tariffs Spark Market Turmoil: Dow Futures Plummet, Crypto Liquidations Surpass $1B

Trump's Tariffs Shake Markets: Dow Futures Slide, Crypto Liquidations Top $1B

In a move that has sent shockwaves through global markets, former President Donald Trump has announced new tariffs on several countries, leading to a significant downturn in both traditional and cryptocurrency markets. The Dow Jones Industrial Average futures have slid, while the crypto market has witnessed over $1 billion in liquidations in the past 24 hours.

The new tariffs, imposed on Mexican, Canadian, and Chinese imports, have added to the already fragile global trade environment. Investors, spooked by the increased geopolitical tensions and ongoing economic uncertainty, have been shifting their portfolios away from risk-heavy assets like cryptocurrencies. This shift in sentiment has contributed to the recent market downturn.

The crypto market has been particularly hard hit, with major coins experiencing significant price declines. Bitcoin (BTC) is currently priced at $96,636.4, down by 4.52%, while Ethereum (ETH) sits at $2,826.76, showing a 10.28% drop. Solana (SOL) is trading at $198.03, down 8.48%. Meanwhile, altcoins like XRP and Dogecoin (DOGE) are facing even steeper losses, with XRP at $2.32 (-20.62%) and DOGE at $0.2526 (-19.05%) in the last 24 hours.

The overall market capitalization has dropped to $3.21 trillion, down by 6.50%. The Fear & Greed Index is at 47, signaling fear in the market, while the CMC100 index is down 8.07%, now sitting at $195.19. Bitcoin continues to dominate the market with a dominance of 59.89%, followed by Ethereum at 10.64%.

As of the latest 4-hour liquidation heatmap, the total liquidations across multiple exchanges have reached staggering amounts. Ethereum (ETH) leads the way with over $111 million in liquidations, followed by Bitcoin (BTC) at $62 million. Other cryptocurrencies such as