Nvidia’s results, Indian tariffs, French markets - what’s moving markets
Investing.com-- Bitcoin fell slightly Wednesday after U.S. President Donald Trump announced harsher-than-expected tariffs, with China among the worst hit.
Bitcoin fell 0.3% to $84,965.1 by 5:09 p.m. ET.
Trump tariff shock hits risk sentiment
President Donald Trump said Wednesday the United States will impose reciprocal tariffs of at least 10% on all imported goods, with higher reciprocal rates for some nations that will be equivalent to "half" of the rate they levy on U.S. exports.
China, who charges a 67% of tariff on U.S. imports, will be among the among the worst hit, with new levy of 34%. That would be in addition to the 20% tariff on goods from China, taking the total rate to 54%.
Trading partners are expected to announce countermeasures, setting the stage for a potential trade war.
USDC issuer Circle files for US IPO, seeks $5 bln valuation
Circle, the issuer of the stablecoin USDC, filed for an initial public offering to list on the New York Stock Exchange on Tuesday.
The company is reportedly seeking a $5 billion valuation, with JPMorgan and Citigroup (NYSE:C) serving as lead underwriters.
The move represents Circle’s second attempt to enter public markets, after a planned merger with a special purpose acquisition company collapsed in 2022 amid regulatory challenges and a crypto market rout.
A successful listing will make Circle one of the biggest publicly traded crypto firms in the U.S., behind Coinbase (NASDAQ:COIN) and major Bitcoin holder Strategy (NASDAQ:MSTR).
But the company’s planned IPO comes amid volatile times for equity markets, with Wall Street nursing steep losses in the first quarter on concerns over Trump.
Crypto price today: altcoins muted amid Trump caution
Broader crypto prices moved in a flat-to-low range, seeing little buying action ahead of Trump’s widely anticipated tariff announcement.
World no.2 crypto Ether inched higher 0.2% to $1,870.98, while XRP fell 2.3% to $2.09.
Solana fell 0.6%, Cardano fell 1.7%, while Polygon fell 0.9%.
Among meme tokens, Dogecoin fell 2% higher, while $TRUMP fell 1.7%.