There were heavy losses in US markets on Thursday after President Trump announced the implementation of significant new tariffs on China as early as next weeks.
These tariffs will amount to approximately $50 billion on a yearly basis for Chinese exports. There is widespread fear that China will retaliate and financial market across the world will be plunged into further turmoil.
The Dow Jones was down 724.42 points for the day, which represents a 2.93% decrease. Analyst expect there to be further decreases before the weekend. Some are even going so far as to say this could represent the beginning of a reversal of the multi-year bull trend responsible for the record highs of the past few months.
The question on a lot of people’s minds is wether or not the falling Dow Jones present an opportunity for cryptocurrencies.
Sourced through Scoop.it from: finance.yahoo.com