While economists debated the impact of Trump’s tariffs, Wall Street and crypto markets took a nosedive on March 10, 2025. The numbers paint a grim picture. Over $1.75 trillion vanished from Wall Street in a single day. Brutal.
Crypto wasn’t spared either, with Bitcoin plummeting to $77,393 and the overall crypto market cap shrinking to $2.57 trillion. That’s a cool trillion dollars gone from crypto in just two months.
Trump’s new tariffs on China, Canada, and Mexico have everyone freaking out about a trade war. Nobody likes uncertainty. When the President refuses to rule out a recession, markets get jitty. China’s threatening countermeasures. U.S. companies are facing higher production costs. It’s a mess.
Trump’s tariff bombs have markets in panic mode. It’s economic Russian roulette, and everyone’s holding their breath.
The damage was widespread. Dow Jones dropped 2.3%, S&P 500 fell 3.1%, and Nasdaq got hammered with a 4.3% decline. The Nasdaq 100 is now officially in correction territory—down more than 10% from recent peaks. Four consecutive days of losses for the S&P 500. Ouch.
Bitcoin’s down 12% in just a week and has fallen more than 25% from its January high of $109,000. The Crypto Fear and Greed Index sits at 20—extreme fear territory. Investors are running for the exits, with $876 million flowing out of crypto funds in a single week. That’s part of a $4.75 billion exodus over four weeks.
The Bybit exchange hack didn’t help. North Korean hackers reportedly made off with $1.46 billion. Talk about bad timing.
Add in regulatory concerns and interest rate uncertainty, and you’ve got the perfect storm. The ongoing market confidence decline has been noted by analysts as a key factor in the current cryptocurrency instability.
Meanwhile, safe havens are thriving. Gold’s up 50% in 13 months, and Treasury yields are dropping. Many experts consider this week crucial for determining whether we’ll see a market rebound or further decline. Markets are betting on three rate cuts in 2025 as economic concerns mount.
Bitcoin’s status as a large-cap cryptocurrency hasn’t shielded it from these massive price swings, highlighting that market cap alone cannot guarantee stability during global economic turmoil.
The ball’s in Trump’s court now. Maybe if his administration clarifies their economic strategy, markets might find their footing again. Maybe.
