COINOTAG News, April 7th: In a pivotal move, President Trump has enacted an executive order to introduce a 10% minimum benchmark tariff on international trading partners, alongside customized tariffs targeting nations with significant trade deficits with the United States. This decision has triggered a dramatic response in financial markets, with all three major stock indices experiencing steep declines exceeding 5.5%—the largest single-day drop observed since 2000. The Dow Jones Industrial Average suffered a staggering dip of over 2000 points, entering correction territory, while the Nasdaq Composite has officially entered a bear market.
Investors are increasingly concerned about a looming U.S. economic recession as numerous countries announce retaliatory actions against Trump’s tariff strategy. In just two days, approximately $5.4 trillion in market capitalization has been wiped off the S&P 500. The cryptocurrency sector has also felt the effects, with Bitcoin’s price undergoing a tumultuous drop from its peak of $88,000, dropping below the crucial $80,000 threshold. Moreover, the cryptocurrency market has seen a significant rise in liquidation, with a staggering total exceeding $590 million in daily liquidations as volatility escalates.
In response to this market turbulence, innovative solutions are emerging, such as BiyaPay, the world’s first multi-asset trading wallet. It provides seamless connections for fiat and cryptocurrency exchanges, facilitating participation in both U.S. and Hong Kong stock markets using USDT. This platform enhances trading efficiency with zero transaction fees, ensures B2C compliant withdrawals, and mitigates risks of fund freezes commonly associated with traditional OTC/C2C transactions, offering security in uncertain times.