US Stocks Fall Because Trump Tariffs; Tesla Dash Because Dogecoin
US stock dem fall as President Trump increase di tariff threat, wey dey weigh both equity and crypto markets. For July 7, Trump announce say dem fit hike tariff to 10% for BRICS countries plus extend trade-deal deadline go August 1, wey make Dow fall over 1%, S&P 500 drop 0.84% and Nasdaq fall 0.9%. Treasury Secretary Scott Bessent talk say trade agreement dey near, but Trump come renew tariff threats—wey include 25% tax for Japan and South Korea plus extra 10% for “anti-American” retaliation—wey make market volatile again. Also, Tesla shares drop 7.2% after Elon Musk start “America Party” and after new budget bill wey remove EV tax credits and reduce fund for him Dogecoin department. Crypto traders suppose dey watch out make no spillover happen: higher Trump tariffs fit cause market-wide sell-off, while less support for Dogecoin fit pressure DOGE short-term.
Bearish
Trump tin big big complain say e go add tariff don cause gbege for market, wey make US stocks drop sharply and market dey uncertain. When people dey sell stock, e usually affect crypto markets also and make price drop. Plus, new budget remove tax credit wey oil electric car and cut Tesla Dogecoin fund, dis one don make institutional support for DOGE weak, e drag down people confidence. Even though trade deals fit later bring confidence back, for now the outlook for cryptocurrencies like Dogecoin dey bearish.