- Trump calls 90-day suspension of tariff war, excluding towards China.
- The initial tariff announcements led to over $1.5 trillion wiped from the US stock market.
- The tariff pause now brought $4 trillion to the US stock market and a crypto market pump.
The last couple of days saw a brutal drop in the US stock market and crypto market prices, mostly attributed to Trump’s tariff announcements. The President of the United States of America now announced a 90-day suspension of the tariff war with most countries leading to both stock and crypto market pump of $4 and $2.5 trillion respectively.
Trump Class 90-Day Suspension of Tariff War
Trump’s tariff war began earlier this week when he first announced tariffs to a handful of countries including China and Canada. Soon after, the President of the USA then announced a waterfall of tariffs on a long list of countries including an island only inhabited by penguins. As countries answered back with tariffs of their own on the USA, Trump announced a 90-day suspension of the tariff war with most of the countries excluding China.
China had drawn alliances with its neighboring nations to band against Trump’s tariffs against them. But with this new suspension in place, perhaps alliances will change once again. Initially when Trump announced the tariffs, the US stock market and the crypto market experienced two brutal dumps back to back. In particular, over $1.5 trillion was wiped from the stock market while BTC and ETH prices dropped significantly taking the rest of the crypto market with it.
Accordingly, suspending the tariffs has led to an inverse effect. As we can see from the post above, Trump’s tariff suspension led to a sharp market pump for both the US stock market and crypto. In particular, the crypto market rose sharply, with ETH rising 15% to over $1,600 and XRP rising 15.3% to over $2. Furthermore, it states that the liquidation amount in 24 hours reached $587 million, and the short position liquidation amounted to $374 million.
Stock and Crypto Market Pump by $4 and $2.5 Trillion
As we can see from the post above, the suspension of the tariff war led to incredibly fruitful pumps for both the stock and crypto markets. To specify, $4 trillion flowed into the US stock market in just 15 minutes while the total crypto market pumped up to $2.5 trillion. The image in the post shows an endless screen of green showing that almost every asset in the stock and crypto market has pumped bullishly leading analysts and traders to believe that this is only just the beginning and that incredible gains lie ahead for both markets.
