On March 12, COINOTAG News reported significant fluctuations in the US stock market due to President Trump’s repeated alterations to Canadian tariff policies. This resulted initially in market gains, followed by a sharp downturn triggered by the announcement of a 25% tariff on Canadian steel and aluminum. Although subsequent news indicated a pause in the tariff implementation and intentions for renegotiation, the negative trend persisted. A brief intermission in this saga came when Ukraine declared a 30-day ceasefire, which prompted a surge in large-cap tech stocks, briefly lifting the market before closing lower, with main indices ending in the red.
Cryptocurrency markets, however, displayed resilience as Bitcoin experienced a recovery from a low of $76,606, climbing above $83,000—a rise exceeding 8%. Likewise, Ethereum rebounded from $1,754 to $1,920, showcasing robust performance above 9%. This positivity led to a total cryptocurrency market capitalization of approximately $2.77 trillion, reflecting a 2.5% increase over 24 hours, suggesting improving market sentiment.
In parallel, the US Dollar Index saw a decrease of over 0.6%, with most of the trading day spent in negative territory. Meanwhile, an optimistic outlook for global oil inventories contributed to a slight uptick in international oil prices. Additionally, concerns regarding US tariffs fostered a rise in safe-haven gold, with spot prices garnering over 0.9% growth. The persistent uncertainty regarding Trump’s tariff policy continues to weigh heavily on the market sentiment, influencing investors ahead of the highly awaited CPI report due at 8:30 PM tonight. This report may have substantial implications for market direction.
4E, a trading platform facilitating investments in cryptocurrencies, stock indices, and more, has introduced a new USDT stablecoin product, promising an 8% annualized return, offering a potential hedge against market volatility. Investors are reminded to manage their assets judiciously, considering ongoing market risks.