Crypto Dips Again as China Set to Impose Tariffs on US Goods

Cryptocurrencies tumed early on Tuesday after China announced his retaliation measures against the US, including a probe to Google and new levies on American goods.

Crypto is still faltering of the global market trout $ 2.2 billion In liquidations caused by investor uncertainties after US rates

The top 10 cryptos excluding stablecoins have responded negatively to the news with Dogecoin losses, a decrease of 5.8%, followed by XRP’s decrease of 5.1%.

Bitcoin showed relative resilience and dropped only 1.3% to $ 98,934, according to Coingecko data.

It follows Asia media messages, including the South China Morning Post, which stated Beijing had announced rates for American goods between 10% and 15%.

Bloomberg further reported Beijing will impose 15% levies on coal and liquid natural gas import, in addition to 10% rates for oil and agricultural equipment from America, immediately in force.

Nasdaq 100 -Futures have also seen immediate reactions and fell 1.7% in the day, 8 hours before the American markets open.

By the late afternoon, Futures parried slightly, but remained according to 1.2% for the day, according to to data from Yahoo Finance.

Raw materials see broad pressure with natural gas that falls sharply by 2%and crude oil drops by 1.74%, while the buyer stands out as the only profit for important raw materials with a modest increase of 0.35%.

The Chinese state administration for market regulations also started an antitrust investigation into Google moments after American rates were in force, according to a separate report Van Bloomberg.

This story develops and will be updated accordingly.

Published by Sebastian Sinclair