Markets took a slight dip on Friday after former President Trump accused China of breaking a trade agreement.
Trump’s Claims
Trump, posting on Truth Social, claimed he’d made a deal to prevent China from facing severe economic hardship due to his tariffs. He stated the deal stabilized the situation, but alleged China subsequently violated the agreement. He expressed frustration with China’s actions.
Market Reaction
The news caused a ripple effect in the markets. The Nasdaq fell by 0.32%, while the S&P 500 saw a minimal drop of 0.0081%. The cryptocurrency market experienced a more significant decline, with the overall market cap dropping over 4%, and Bitcoin falling by more than 1%.
Background
This follows earlier events where the Trump administration imposed tariffs on China, prompting retaliatory measures. A subsequent deal to reduce these tariffs had previously boosted the stock market.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
