BlockBeats News, April 9th: According to 4E monitoring, as the "Peer-to-Peer Tariff" policy is about to take effect, on Tuesday, Trump once again signed the latest executive order, raising China's tariffs to 104%, causing the global market to once again plunge into a panic sell-off.

The three major U.S. stock indexes were boosted in early trading by optimistic expectations for trade negotiations, with the Nasdaq and S&P 500 indexes both rising by over 4%. However, following the tariff news, market sentiment reversed, the gains quickly evaporated, and turned into losses. At the close, the Nasdaq fell by 2.15%, the Dow fell by 0.84%, and the S&P 500 fell by 1.57%. The Big Seven tech stocks index fell by over 2.3%, fluctuating downward throughout the day, with the declines narrowing towards the end of the day.

The crypto market followed the U.S. stock market downward once again, with Bitcoin dropping from a high of $80,000 last night to a low of $74,620, approaching a new low. At the time of writing, it was trading at $76,053, down 5.8% in the past 24 hours. The altcoin market saw widespread declines, with meme and AI sectors leading the losses, as the market entered a state of extreme panic.

In the commodities market, the U.S. dollar index saw a halt to its two-day gains, falling by about 0.3%, driven by safe-haven demand leading to the appreciation of the yen and the Swiss franc. Oil prices continued their fourth consecutive decline, hitting a new low in four years. Spot gold showed a trend of rising and falling throughout the day, retreating above the psychological level of $3,000.

The market generally believes that the 104% ultra-high tariff has escalated the U.S.-China trade war to an unprecedented level of intensity. The market is closely watching the follow-up actions of both China and the U.S., as well as whether other countries will be dragged into a broader trade conflict. In the short term, the market may continue to be shrouded in high uncertainty.

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