U.S. President Trump announced "reciprocal tariffs" for multiple countries including Taiwan on the 3rd, causing initial severe volatility in global financial markets. However, the situation did not end there. The next day, China provided countermeasures to the tariff policy, further hammering the already weak financial markets.
According to investigations, the four major U.S. stock indices dropped in these two days:
- Dow Jones Industrial Average: Dropped 9.3%
- S&P 500 Index: Dropped 10.5%
- Nasdaq Index: Dropped 11.5%
- Philadelphia Semiconductor Index: Dropped 16.8%
Arthur Hayes: U.S. Stocks Might Experience "Black Monday"
In this context, BitMEX founder Arthur Hayes posted a tweet today at noon warning that tomorrow's U.S. stock market opening might replay Black Monday, and that Bitcoin showed little movement over the weekend, making it impossible to predict next week's market:
Brothers, are we about to replay Black Monday? S&P 500 futures will open at 6 AM Greenwich Standard Time +8 (Beijing Time). At what level will the S&P 500 open during Asian morning trading? Bitcoin had minimal movement over the weekend and cannot tell us how the market will develop.
Famous U.S. financial commentator Jim Cramer also tweeted yesterday, hinting that the 1987 Black Monday might replay:
The world is trying to rebuild a "new, weaker world order" in a short time, but there are no clear signs that can rule out a 1987-style crash. He directly stated that investors trying to buy the dips have already "sunk to the bottom of the sea".
Additionally, Cramer added this morning that he believes the current situation differs from 1987 in that circuit breakers might slow down the entire downward trend.
Bitcoin's Hedging Attributes Gain Attention Again
Notably, while U.S. stocks were experiencing a brutal decline, Bitcoin demonstrated resilience. According to Binance spot data, Bitcoin touched $81,849 on the evening of the 3rd before rebounding, reaching as high as $84,720, and remained stable around $83,000 before this article's deadline, with a near 24-hour decline of 0.5%.
Bitcoin's performance of "decoupling" from traditional assets sparked market discussion, with some supporters again raising the argument of "Bitcoin as a hedging asset", becoming a rare bright spot in this week's market turbulence.
