Gold hit a record $4,179 per ounce on Tuesday as investors piled into safe-haven assets amid escalating US-China trade tensions and expectations for deeper Federal Reserve rate cuts.
President Trump announced plans to impose an additional 100% tariff on Chinese imports, triggering an estimated $18 billion sell-off in crypto markets as investors react to renewed trade tensions.
President Trump says a 100% tariff will apply to branded pharmaceutical imports from Oct. 1, unless the companies have begun building manufacturing plants in the U.S.
The Federal Reserve lowered its benchmark rate by 0.25% to 4.00%–4.25%, its first step in a projected series of cuts as job growth slows and inflation stays high.
China has ordered major tech firms to stop buying Nvidia’s RTX Pro 6000D chips, prompting CEO Jensen Huang to express disappointment and highlight growing geopolitical risk.