US President Trump's reciprocal tariff measures officially took effect today

US President Trump's reciprocal tariff measures officially took effect today, and the impact of this trade war quickly spread to global financial markets.

The impact of US President Trump's reciprocal tariff measures, which officially took effect today, quickly spread to global financial markets.

Since the launch of the comprehensive tariff plan on April 3, Trump's personal net worth has dropped from $4.7 billion to about $4.2 billion, according to the latest report by Forbes. The decline in net worth is mainly attributed to the downturn in the stock market, affecting the value of his public and private stocks.

In response to the market turmoil, Ken Fisher, founder of Fisher Investments, slammed Trump's tariff policy on social platforms, deeming it "stupid, wrong and extreme."

On the other hand, some European investors have begun transferring physical assets such as gold from the United States in search of a safer haven, according to Boujnah, CEO of Euronext.

In this round of market turmoil, the cryptocurrency market has shown a unique trend.

Bitcoin fell to $74,501 on "Black Monday" and hit $74,627 again today, seemingly forming a potential support level around $74,000. Crypto analyst Eugene and BitMEX co-founder Arthur Hayes both built positions around $75,000, and Hayes predicted that Bitcoin's market value share will climb to 70%.

Bernstein analysts pointed out that compared with the historical deep correction of 50% to 70%, the current decline of only 26% shows that Bitcoin is gaining more resilient capital support.

Moreover, Matrixport analysis pointed out that the US dollar-RMB exchange rate is approaching key technical resistance levels, which may indicate that Bitcoin is about to usher in a new round of rapid rise.

Standard Chartered Bank also predicted that the price of Ripple's XRP token may rise to $12.50 before Trump leaves office.

In terms of regulation, the situation is becoming increasingly complicated. In order to comply with Trump's executive order on digital assets, the U.S. Department of Justice announced the dissolution of a department dedicated to cryptocurrency-related investigations.

According to Fortune magazine, the U.S. Chamber of Commerce is considering suing the Trump administration to stop the new tariffs that will take effect on Wednesday, and other groups may also join the lawsuit.

U.S. Treasury Secretary Bessant said that discussions are currently underway on which regions to prioritize tariff agreements with, but White House officials have confirmed that tariff exemptions will not be implemented in the near future, and reports say that more than 50 countries (regions) have come forward to seek negotiations.

At the macroeconomic level, the situation is becoming increasingly serious. Former U.S. Treasury Secretary Summers warned that Trump's tariff policy could lead to a recession in the U.S. economy, with about 2 million Americans expected to lose their jobs and each family facing a loss of at least $5,000 in income.

Goldman Sachs' strategy team warned that the current stock market sell-off could evolve into a longer-lasting cyclical bear market.

The U.S. bond market suffered a sharp sell-off, with the 10-year Treasury yield soaring to 4.503% and the 30-year yield breaking through 5.010%.

Wall Street bigwigs, including Bill Ackman, Daniel Loeb and Jim Chanos, collectively warned that Trump's latest tariff policy had serious calculation errors and quadrupled the tariff levels of other countries.

However, Fisher offered a relatively optimistic view, believing that the market may have overreacted, and cited the example that the stock market also experienced a similar adjustment in 1998, and still achieved a 26% return rate that year.