Asian Markets Decline as Tariff Uncertainty and Bitcoin Volatility Persist
Global markets react to shifting U.S. tariff policies, weak Chinese trade data, and President Trump's establishment of a Strategic Bitcoin Reserve.
- Asian stock markets saw widespread declines, with Japan's Nikkei 225 dropping 2.1% and Australia's ASX 200 falling 1.8%, following a turbulent session on Wall Street.
- President Trump delayed the implementation of 25% tariffs on Canadian and Mexican goods until April 2, creating temporary relief for automakers but leaving broader trade policies uncertain.
- Bitcoin experienced a 5.7% drop after Trump's executive order to establish a Strategic Bitcoin Reserve, though no public purchases of the cryptocurrency are planned.
- China reported weaker-than-expected trade data for January-February, with exports growing only 2.3% and imports contracting by 8.4%, raising concerns about global economic stability.
- Investors await February's U.S. jobs report, with economists predicting an acceleration in hiring, as labor market strength remains critical to sustaining consumer spending and economic growth.