Bitcoin has panic across the global market, denounced the dollar, threatening President Donald Trump to fire Federal Reserve Chairman Jerome Powell.
The 3% increase in Bitcoin wiped out almost all damage from April 2, the day Trump announced a new round of retaliatory tariffs.
Source: Bloomberg.
Bitcoin wasn’t the only one flying around. Gold reached the highest ever high as people began to run towards safer places to park their money. Crypto and metals were where panic money went as the dollar’s bleeding and trust in central policy collapsed.
Market where stocks bleed after a third loss in four weeks
The rally came when US stock futures were hammered and the dollar reached its lowest since January 2024. After Kevin Hassett, who runs the National Economic Council, pressure began to build up.
That single comment pushed the greenback to the ground, straightforwardly questioning the Fed’s independence. Trump himself said about the true society:
“Too late” Fed Jerome Powell is always too late and wrong, but yesterday he published another, typical, total “confusing!” report. Oil prices are falling, and groceries (eggs) are also falling.
On Monday morning, S&P 500 futures fell 0.79%. NASDAQ-100 futures fell 0.82%. The Dow Jones crashed 318 points, down 0.81%. It went on for three consecutive weeks, this time it was a huge hit. A small clash occurred on Thursday, but the S&P 500 still reduced its week of shortened holiday by 1.5%.
The Dow and Nasdaq composites both sank more than 2% during the 4-day stretch. The US market was not even open on Friday due to Friday, but sales quickly increased.
The deal on Thursday was cruel. UnitedHealth lost more than 22% after cutting its full-year forecasts and reducing revenues weaker than expected. That single inventory tanked the Dow.
After that, Nvidia felt more pain. The chip giant has already lost 7% early in the week before its stocks fell nearly 3%. On Tuesday, Nvidia admitted that it would need a $5.5 billion hit in the next quarter as it controls shipping its H20 GPU chips to China and other countries.
