According to @burrytracker, Trump’s Truth Social post vowing massive tariffs on China reignited tariff fears. According to @burrytracker, minutes after the post the Nasdaq-100 fell nearly 2%, erasing more than $650 billion in tech market cap. According to @burrytracker, the S&P 500 then lost about $2.1 trillion in market value over the past two hours, its steepest drop since April.

According to @KobeissiLetter, renewed trade war tensions have emerged as Trump announced potential 50% tariffs on the EU starting June 1st and 25% tariffs targeting Apple. In response, the S&P 500 has lost $1.5 trillion in market capitalization over the past five days (source: @KobeissiLetter, May 23, 2025). This sharp equity market decline has triggered increased risk aversion and capital flows into safe-haven assets, with the bond market becoming a key indicator for traders. Crypto traders should monitor these macroeconomic developments closely, as heightened volatility and risk-off sentiment could drive significant price swings in Bitcoin and other digital assets. Historically, escalated trade tensions have spurred both risk aversion and, at times, a flight to alternative assets such as cryptocurrencies (source: @KobeissiLetter, May 23, 2025).