Risk assets tumbled as a wave of bearish sentiment gripped markets, with escalating trade tensions, disappointing earnings and signs of economic fragility weighing on investor confidence.
President Donald Trump confirmed a 25% tariff on imports from Mexico and Canada, effective March 4, while also targeting European Union’s goods including automobiles and imposing an additional 10% tariff on Chinese imports.
The sweeping trade measures rattled markets, triggering broad-based sell-offs, with cryptocurrencies bearing the brunt of risk aversion.
Though seeing a small uptick after it plunged below $80,000 in early Friday trading, Bitcoin (CRYPTO: BTC) is still entering a bear market after dropping more than 20% from its peak. Sentiment in the digital asset space worsened following a massive security breach at Bybit, where hackers stole $1.5 …
