Stock Markets Dip amid Tariff Threats, Crypto Soars
The Dow Jones stumbled on July 11, sliding 286 points or 0.64%, while the S&P 500 dipped 0.30%. Despite this gloom, the tech-heavy Nasdaq managed a loss of merely 0.08%. Tech stocks and cryptocurrencies shone luminous.
Bitcoin, the leading cryptocurrency, posted remarkable growth. It hit another record high of $118,856, rising 4% within 24 hours. Other altcoins like Ethereum gained significantly too,with XRP,Dogecoin,and Cardano surging in double digits.
President Trump’s new tariff announcements sent waves through markets. He unveiled a 35% tariff on Canadian imports, up from the existing 25%. However, key items such as oil, gas, and potassium would still enjoy exemptions and a lower 10% tax protection under the USMCA agreement.
Canada stands as one of America’s largest trading allies, supplying vital energy and raw materials. Meanwhile, Vietnam found itself in a tariff twist, facing a new 20% levy. The country hopes to negotiate it down to the 10%-15% zone.
查获了全球供应链的转移趋势，几年前从中国转移到美国的多个行业如电子、纺织和鞋类，现在则由越南接手。
Trade analysts stress the geopolitical alignment of Vietnam towards the U.S. compared to China. The ripple effect continues to shape economic strategies globally.
