Global markets are in turmoil as U.S.–China trade tensions reignite and the crypto sector reels from a $19 billion liquidation event. The White House’s proposal of 100% tariffs on Chinese goods has sent shockwaves through equities and commodities, with the Dow falling nearly 900 points and Asian markets plunging over 9%. At the same time, Bitcoin and crypto markets faced one of their largest liquidations ever over $19 billion wiped out in 24 hours as traders rushed to de-risk amid escalating macro uncertainty.