The feeling of risks worsened during European hours on Friday after China announced reprisal prices on all goods, responding to Trump’s decision on Wednesday to strengthen the levy on Chinese products at 54%.
Bitcoin, the main cryptocurrency by market value, dropped from $ 1,600 to $ 83,000, erasing the early increase to $ 84,600, according to Coindesk data. Other tokens like XRP, ETH, Sol and Doge have also reversed early gains to exchange widely.
Meanwhile, the term contracts linked to S&P 500 and Nasdaq fell by more than 2% in the midst of global trade tensions.
“China’s response is not only negative for the United States, but it also has an impact on global prospects,” wrote Forexlive analyst in a market update.
