Trump’s Trade Turmoil Slams Stocks and the Greenback, Fuels Rush to Bitcoin and Gold

CN
5 hours ago

The exodus from U.S. assets intensified, with the Nasdaq Composite off 3%, the NYSE slipping 2.31%, the Dow Jones falling 2.67% and the S&P 500 down 2.78% as of 1 p.m. Eastern. This slump coincides with the ICE U.S. Dollar Index dropping Monday to a three‑year trough of 97.92. By 1 p.m., the gauge had edged back to 98.34. The rare pairing of rising long‑term yields and a softer dollar suggests global capital is questioning the steadiness and credibility of U.S. policy.

Trump’s Trade Turmoil Slams Stocks and the Greenback, Fuels Rush to Bitcoin and Gold

The four major U.S. equity indexes on Monday, April 21, 2025, at 1 p.m. Eastern time.

The 10‑year Treasury yield has climbed to 4.40%, up from 4.34% only days ago and comfortably above its long‑run norm of 4.25%. Longer bonds followed suit, with the 20‑year note at 4.82% and the 30‑year benchmark touching 4.88%. Investors are demanding richer coupons to offset perceived threats—ranging from inflation and fiscal stress to political volatility—especially with the greenback lingering near the three‑year low.

Digital‑asset capitalization expanded more than 3% Monday to $2.75 trillion. Bitcoin tapped $88,527 on Bitstamp roughly an hour ago. Ether advanced 2.4%, BNB gained 2.2% and dogecoin appreciated 4% over the same span. Market analysts argue the move may pave the way for a run at $90,000 and higher if demand persists. A subset of traders say BTC is sidestepping the trade‑war turbulence and behaving more like gold’s digital cousin or a barometer of macro risk. BTC has since seen a slight pullback, sliding to $87,200 by 1 p.m. ET.

Gold continued its climb Monday, holding comfortably above $3,400 per ounce. The metal’s swift advance reflects intensifying global uncertainty—prompted by the U.S.-China trade confrontation—and a noticeably weaker dollar. Investors are gravitating toward bullion as a refuge amid cooling worldwide growth, stubborn stagflation fears and escalating geopolitical flashpoints from Eastern Europe to the Middle East.

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