On February 25, affected by Microsoft's removal of two data centers, Wall Street is concerned about the potential oversupply risk of AI infrastructure, coupled with Trump's claim that tariffs on Canada and Mexico will continue, further undermining market confidence. According to 4E monitoring, the major U.S. stock indexes saw more declines than gains that day, with the Dow Jones up 0.08%, the S&P 500 down 0.50%, and the Nasdaq down 1.21% as large-cap tech stocks fell collectively.
The cryptocurrency market plummeted collectively following the U.S. stock market. A South Dakota state legislator postponed a vote that could have allowed the state to invest in Bit, effectively killing the bill and further dampening market sentiment. Bit fell below $91,000, hitting a new low in February, before rebounding slightly to $92,245, down 3.77% in 24 hours.
Ethereum and Altcoins saw significant declines. The market had previously expected Bybit to repurchase ETH to replenish its wallet funds, which had boosted ETH's rebound. However, market news yesterday indicated that the ETH gap has been fully filled through loans and over-the-counter trading, and ETH began to decline. This morning, driven by the broader market, ETH fell below $2,500, down 11% in 24 hours. The meme momentum cooled, and Solana's price fell below $140 to its lowest level since October, down 15% in 24 hours.
In the foreign exchange and commodity markets, the market is concerned about the weak U.S. economic growth, with the U.S. dollar index falling 0.07%. The U.S. announced new sanctions on Iran's oil exports, and international oil prices rose more than 0.4%. The increased demand for safe-haven assets and the weakening of the U.S. dollar supported spot gold, which rose more than 0.53% to a new high, up more than 12% so far this year, with investors focusing on the $3,000 level.
The current market sentiment is relatively fragile. With the deadline approaching, Trump's tariff policy on Canada and Mexico, as well as the continued signs of weakness in U.S. economic data, have created uncertainty in the market, leading to an increase in risk-averse sentiment. The upcoming key events, such as Nvidia's earnings report on Wednesday, the U.S. GDP data on Thursday, and the Fed's favorite inflation indicator PCE data on Friday, may all impact the market.
eeee.com, as a financial trading platform that supports Bit, stock indexes, gold, and foreign exchange assets, has recently launched an 8% annualized yield USDT stablecoin wealth management product, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.
