Trump Raises Tariffs! Japanese Stocks and Cryptocurrencies Hit a Wall!
TradingKey - Trump’s decision to raise tariffs on China to 104% has triggered another wave of market selling. Japanese stocks and cryptocurrencies, which had previously posted gains, quickly turned negative.
On Wednesday, both Japanese equities and cryptocurrencies experienced sharp declines. The drop coincided with the implementation of new reciprocal tariffs, reigniting panic across global financial markets.
As of the time of writing, the Nikkei 225 index is down 3.93%, falling to 31,714 points. The TOPIX index declined 3.4% to 2,349 points. This marks a dramatic reversal from the previous day, when Japanese stocks led Asian markets, with both the Nikkei 225 and TOPIX rising over 6%.
Nikkei 225 Index Chart, Source: Google
Following a similar pattern, cryptocurrencies also reversed course, their falling around 3% today. Bitcoin dropped 2.5%, nearing the previous day's low of $74,500. Fortunately, Bitcoin did not set a new low—today’s movement was a modest pullback rather than a full-scale plunge.
Bitcoin Price Chart, Source: TradingView
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