The stock market in the United States experienced a greater loss in value during the trading session on April 4 than the total worth of the cryptocurrency market, as concerns over President Donald Trump’s tariffs continue to escalate.
On April 4, the US stock market dropped $3.25 trillion — about $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of reporting.
Nasdaq 100 is currently “in a bear market”
Of the Magnificent-7 stocks, Tesla (TSLA) suffered the most with a 10.42% decrease, followed closely by Nvidia (NVDA) which decreased by 7.36% and Apple (AAPL) which fell by 7.29%, as per the data from TradingView.
This drastic drop across the board indicates that the Nasdaq 100 is now “in a bear market,” having fallen 6% during the trading session, as noted by trading resource account The Kobeissi Letter in an April 4 post on X. This marks the steepest daily decline since March 16, 2020.
“US equities have now wiped out a staggering -$11 TRILLION since February 19 with recession probabilities OVER 60%,” it added. The Kobeissi Letter stated that Trump’s tariff announcement on April 2 was “historic,” warning that if the tariffs persist, a recession would be “inevitable.”
Source: Anthony Scaramucci
On April 2, Trump enacted an executive order instituting reciprocal tariffs on trading partners along with a 10% baseline tariff on all imports from every country.
Trump mentioned that the reciprocal tariffs will approximately amount to half of the rates imposed on American goods by US trading partners.
Related: Bitcoin bulls defend $80K support as the ‘World War 3 of trade wars’ pressures US stocks
Meanwhile, the cryptocurrency sector has highlighted that while the stock market continues to plunge, Bitcoin (BTC) is performing better than most anticipated.
Crypto trader Plan Markus emphasized in an April 4 post on X that while the overall stock market “is collapsing,” Bitcoin is sustaining its position.
Source: Jeff Dorman
Even some Bitcoin skeptics have noted the stark difference between Bitcoin’s performance and that of the US stock market amid the recent macroeconomic uncertainty.
Stock market analyst Dividend Hero mentioned to his 203,200 followers on X that he has “expressed disdain for Bitcoin in the past, but observing it not plummet while the stock market does is quite intriguing to me.”
In addition, technical trader Urkel stated Bitcoin “doesn’t seem bothered at all by tariff wars and the market decline.” Bitcoin is currently trading at $83,749, experiencing a decrease of 0.16% over the last week, according to data from CoinMarketCap.
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