4E: Trump's tariff exemption is difficult to reverse the decline of US stocks, the crypto strategic reserve policy is less than expected, and bitcoin has suffered a major setback
On March 7th, according to 4E monitoring, US stocks continued to retreat sharply on Thursday, and the three major indexes fell together. Trump's latest concession on tariff policy, announcing the suspension of tariffs on Canada and Mexico until April 2, failed to ease market pessimism. The S & P 500 fell 1.78%, hitting a low since the election; the Dow fell 0.99%, and the Nasdaq fell 2.61%.
Crypto markets were also weak. US stock losses affected crypto assets, while crypto czar David Sacks said that Trump had signed an executive order to establish a strategic bitcoin reserve, but the order only involved hoarding existing confiscated assets rather than outright purchases. "Store the old and not buy the new" disappointed the market. Bitcoin quickly fell as low as $84,667 and is currently hovering around $88,000, down about 4.2% in the day. Counterfeit products generally followed Bitcoin lower, with Ethereum falling 4.68% to around $2,100.
The current market is increasingly tired of the uncertainty of US policy, especially the frequent voices of members of the executive branch and the repeated adjustment of tariff policies. Investors are focusing on Friday's non-farm payrolls report to analyze the Federal Reserve's monetary policy moves, and the crypto market is also looking forward to the latest guidance from the White House crypto summit on Friday.