Market Digest: BTC Holds Near $108K amid Trump's Tariff Jitters

Key Takeaways

Trump’s new 25% tariffs on 14 countries, including Japan and South Korea, reignited global trade tensions, pushing U.S. equities into broad retreat despite a delay in implementation to August 1.
The Reserve Bank of Australia held its rate at 3.85%, surprising markets and lifting the Aussie dollar as the central bank awaits clearer inflation data.
Gold inched higher as investors sought protection from geopolitical uncertainty.
Bitcoin dipped 0.23% to $108,033 but held above the key $108K level, showing relative resilience amid broader market weakness.

Geopolitics & Market Sentiment

Global markets stumbled Tuesday after U.S. President Donald Trump announced new 25% tariffs on goods from 14 countries, including Japan and South Korea, reviving trade-war fears.

The new tariffs, now set to take effect on August 1 after a brief postponement from the original July 9 deadline, triggered immediate market unease despite the delay. Investors viewed the move as a renewed threat to global trade stability.

The rollout will apply separately from existing tariffs on sectors, such as autos, steel, and aluminum, meaning these new charges won’t stack on top of older levies.

In open letters shared on his Truth Social platform, Trump warned of equal retaliation against any country that responds with tariffs of their own. “Whatever the number you choose to raise them by will be added on to the 25% that we charge,” he wrote, addressing Japan and South Korea directly.

While the tariffs cover a wide range of nations, including smaller exporters like Serbia, Thailand, and Tunisia, Trump suggested room for negotiation, saying he’s open to alternative deals if contacted by leaders.

Meanwhile, the Reserve Bank of Australia surprised markets by holding its policy rate steady at 3.85%, defying expectations of a 25-basis-point cut. The RBA said it required “a little more information” to confirm that inflation is sustainably on track toward its 2.5% target.

In commodities, gold edged higher as investors sought safety amid ongoing uncertainty, while oil hovered in a tight range after OPEC+ confirmed plans to boost production by 548,000 barrels per day in August.

Global Indices

S&P 500 (SPX): 6,229.99 (−0.79%)
Dow Jones Industrial Average (DJI): 44,406.36 (−0.94%)
Nasdaq Composite (IIC-D): 20,412.52 (−0.92%)
Nikkei 225 (NK2251!D): 39,700.0 (+0.4%)
Euronext 100 (N100-D): 1,576.47 (+0.42%)
FTSE 100 (FTSE): 8,787.6 (+0.22%)

Cryptocurrencies

Bitcoin (BTCUSD): 108,033 (−0.23%)
Ethereum (ETHUSDT): 2,547.36 (+0.20%)
Solana (SOL): 163.35 (−1.88%)
Binance Coin (BNBUSDT): 659.34 (−0.28%)

Commodities

Gold: 3,335.70 (−0.10%)
Silver: 36.812 (+0.13%)
WTI Crude Oil (USOIL): 67.67 (−0.28%)
Brent Crude (BRENT3!): 67.34 (−0.08%)

Individual Stocks

Tesla (TSLA): 293.94 (−6.79%)
Apple (AAPL): 209.95 (−1.69%)
Microsoft (MSFT): 497.72 (−0.22%)
Meta (META): 718.35 (−0.09%)
NVIDIA (NVDA): 158.24 (−0.69%)
Amazon (AMZN): 223.47 (+0.03%)

Tesla stock declined sharply following news of CEO Elon Musk launching his own political party, raising investor concerns about potential conflicts between the company’s innovation focus and Musk’s political goals.

Forex

US Dollar Index (DXY): 97.364 (−0.16%)
EUR/USD: 1.17365 (+0.25%)
GBP/USD: 1.36267 (+0.20%)
USD/JPY: 146.05 (−0.00%)

Market Wrap-Up

Markets fell on Tuesday as renewed trade tensions weighed on sentiment. The delayed rollout of U.S. tariffs did little to calm nerves, with major U.S. indices posting broad losses.

Bitcoin slipped but remained above $108,000, while gold edged higher on safe-haven demand. Oil traded in a narrow range following OPEC+’s decision to increase output.