4E: "Black Monday" strikes, global risk assets plummet

ChainCatcher news reports that, according to 4E monitoring, a tariff storm is sweeping the globe, and market panic is spreading, intensifying the sell-off of risk assets. Following a nearly 10% drop last week, U.S. stock futures opened sharply lower on Monday, with S&P 500 and Nasdaq futures at one point falling over 5%. As of the time of writing, the declines have narrowed to 2.39% and 3.17%, respectively, while Dow futures fell 2.42%. The Asia-Pacific stock markets also opened with significant losses, with the Nikkei index plummeting 8.1%, the South Korean KOSPI index dropping 5.14%, and all three major A-share indices falling over 4%. The Hong Kong Hang Seng index opened down 9.28%.

The cryptocurrency market also experienced a significant downturn, closely mirroring the performance of U.S. stocks. Bitcoin fluctuated narrowly around $83,000 over the weekend, but began to break through key support levels early Monday morning, hitting a low of $77,100, marking a nearly one-month low. Other major cryptocurrencies also saw sharp declines, with Ethereum dropping 13.5% to $1,580. The total global cryptocurrency market capitalization shrank from $2.4 trillion to $2.16 trillion, a decrease of 10%. The total liquidation amount across the network in the past 24 hours was $886 million. The market is in a state of extreme panic.

The commodities market also did not escape unscathed. Spot gold fell below the psychological level of $3,000, hitting a low of $2,971. U.S. oil dropped to $59.80 per barrel, down 12% from last week's high, marking a new low since April 2021.