Following US President Trump’s decision to impose additional taxes on China and a 90-day halt to some countries, US stock markets and Bitcoin saw a sudden surge.

After US President Donald Trump’s decision to suspend customs duties for 90 days, there was a strong rally in US stock markets. The Nasdaq Composite index rose by 1,229.20 points, reaching 16,497.11, with an 8.04% increase. The S&P 500 index gained 321.89 points, a 6.46% rise, reaching 5,304.66. The Dow Jones Industrial Average also gained 2,169.93 points, a 5.76% increase, and reached 39,801.82. DOLLAR STRENGTH

The US dollar, which had a weaker performance during the day, gained strength against the Japanese yen and other currencies following Trump’s statement.

Meanwhile, there was a limited increase in bond yields after strong demand was seen in the 10-year Treasury bond auction.

BITCOIN ROSE ABOVE $82,000

According to the analytics company Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, reached $2.63 trillion. The price of Bitcoin, the largest cryptocurrency, increased by more than 7% in the last 24 hours, rising above $82,000 after Trump’s announcement of a 90-day halt on additional tariffs for trade partners except China. As of 21:31 GMT, Bitcoin was trading at $82,662, with a weekly loss of less than 5%.

CHINA-US TAX TENSIONS CONTINUE

While US President Donald Trump’s new customs tariff rate took effect, the Chinese Ministry of Finance announced another retaliatory decision to impose additional tariffs on US goods. The Ministry stated that the additional tax rate on US goods would be 84%, which was previously announced as 34%. The Ministry noted that the additional tax on US goods would come into effect from April 10. Trump wasted no time in responding to China’s retaliation. He raised tariffs on China to 125% and announced a 90-day halt on additional tariffs for more than 75 countries that had approached them and did not retaliate.