China-focused exchange-traded funds and stocks of Chinese companies listed on U.S. exchanges fell Friday, after U.S. President Donald Trump said he was planning to double the existing tariff on goods from China.
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Punitive tariffs against Mexico, Canada and China could go into effect on Tuesday.
Other fintech firms that have a crypto business have also seen their stocks dip, including Robinhood.
The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with another potential red flag for the US economic engine: Consumers pulled back their spending by the most in nearly four years.
Elastic shares jumped Friday after the data analytics software provider reported better-than-expected earnings on strong demand for products related to artificial intelligence.
German unemployment stayed at the highest level since October 2020, as concerns about deindustrialisation and weaker demand continued to weigh on the economy.View on euronews
Trump’s tariff threats are weighing on the crypto market as investors flee risky assets.
Bitcoin continued its downward slide, falling below $80,000 on Thursday night. The leading crypto is 25% down from its all-time high that was reached just a month ago during Donald Trump’s inauguration.
