Ah, what a charming little twist of fate! On Friday, as the clouds parted and the world held its breath, the markets decided to take a slight tumble. The cause? None other than President Donald Trump, who once again felt the irresistible urge to air his grievances about China. The man, with his ever-gracious touch, accused the Chinese of playing fast and loose with their trade agreement.
In a delightful twist of irony, Trump went on Truth Social to unveil his diplomatic masterpiece. The man who prides himself on making the “best deals” had previously chosen to broker an agreement with China, convinced that his tariffs were pushing the entire Asian behemoth into a veritable “grave economic danger.” How noble! The savior of nations!
But wait – hold on to your hats! According to the ever-persistent Trump, his efforts fell short of expectations. Not because he didn’t try – oh no – but because China, in a spectacular display of déjà vu, had the audacity to breach the deal. Shocking, isn’t it?
“I saw what was happening and didn’t like it, for them, not for us. I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen. Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH the US. So much for being Mr. NICE GUY!”
And with those majestic words, the stock markets decided to follow suit. The Nasdaq Composite, clearly impressed by Trump’s rhetorical flair, dropped by a modest 0.32%, while the S&P 500 did a little dance on the edge of oblivion, losing only a mere 0.0081%. An absolutely thrilling performance, wouldn’t you agree?
But hold the applause, because the cryptocurrency market, with all its usual volatility, took a larger-than-life plunge. The digital currency market cap spiraled down by more than 4%, with Bitcoin (BTC) dropping by a hair-raising 1%. A small dent in the realm of the digital gods.
The saga began back in April, when the Trump Administration, with its customary subtlety, launched multiple waves of tariffs on China. Predictably, China fired back with its own retaliatory measures. Yet, in a dazzling display of optimism, the White House proudly announced a deal with China to suspend and lower many of those tariffs earlier this month. Ah, the spark that briefly reignited the equities market!
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Read More
- Silver Rate Forecast
- SPEC PREDICTION. SPEC cryptocurrency
- ETHFI PREDICTION. ETHFI cryptocurrency
- USD PHP PREDICTION
- How Stabull Solves The Stablecoin Chaos (With a Wink and a Nudge) 💰✨
- OM PREDICTION. OM cryptocurrency
- INR RUB PREDICTION
- BXN PREDICTION. BXN cryptocurrency
- CAT PREDICTION. CAT cryptocurrency
- RUNE PREDICTION. RUNE cryptocurrency
2025-05-31 05:41