US stock futures dropped as President Trump announced a 50% tariff on copper and Brazil. Brazil’s President responded with plans for retaliation, contributing to a decline in the iShares MSCI Brazil ETF by 1.8%.
Despite rising tariffs, Bitcoin surged to a new record of 112,259 USD, buoyed by a tech rally led by Nvidia, reflecting continued investor interest in cryptocurrencies amid uncertainty.
In contrast, European markets saw gains, with the FTSE 100 rising by 1.1% due to optimism about multinational firms, despite ongoing trade concerns attributed to the ‘TACO trade’.
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