This marked daily losses of up to 4% as markets reacted to comments from US President Donald Trump over tariffs on the European Union.“Our discussions with them are going nowhere! ” Trump wrote in a post on Truth Social. “Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.”Source: Truth SocialUS stocks reacted immediately at the open, with the S&P 500 and Nasdaq Composite Index down 1% and 1.2%, respectively, at the time of writing.
Related: Bitcoin buyer dominance at $111K suggests 'another wave' of gainsElsewhere, traders eyed key BTC price levels to preserve going forward as the market sought a rebound.“We need to hold the green zone,” trader Crypto Caesar argued alongside a chart showing an area of interest immediately below $110,000.BTC/USDT 4-hour chart.
Too little tariff pressure causes inflation expectations to rise,” it wrote in part of an X response. “Now, President Trump must find a middle ground to maintain tariffs but also suppress treasury yields WITHOUT Fed cuts.”Kobeissi referred to the Federal Reserve’s unwillingness to hasted interest rate cuts despite declining inflation — a key ingredient in further risk-asset upside.
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Author / Journalist: Cointelegraph by William Suberg
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