When this customs issue arose, the global market exploded immediately!
In the morning, when the Tokyo Stock Exchange had just opened, it fell to a level that triggered an automatic trading halt, shares of a giant like Samsung in Korea immediately dropped to the brink of a crash, the exchange panicked and injected trillions of won to rescue the market. In China, renewable energy stocks are experiencing their worst times, with CATL shares falling almost 10% in a single day, and the yuan also dropping to its lowest level in several years. The situation in Europe is even more tense: shares of the German chemical giant BASF fell by 12% in one day, and the company's CEO urgently sent a letter stating that the investment project worth hundreds of billions in China needs to be reconsidered. Shares of the parent company LV in Paris crashed, and the CFO even lost his voice during a conference call, saying that sales in the Chinese region had halved. The London Metal Exchange is even more impressive: one fund sold copper futures worth $7.3 billion in 11 seconds, causing a system failure. The American Wall Street is also not in a better state: Tesla's shares fell below $150, and a Saudi magnate sold shares worth $750 million. The government bond market has turned into chaos, with professional traders saying that these fluctuations are even scarier than during the financial crisis of 2008. The worst is being faced by cryptocurrency traders: the price of Bitcoin fell below $51,000 during the day, and one major player secretly transferred over 20,000 Bitcoins to the exchange, leading to liquidations of positions worth $58 billion across the network. Experts in the field are in a panic — a Hong Kong investment banker stated that within two hours clients redeemed 15% of funds, clients of the Swiss private bank prefer to lose 25% rather than not receive their money immediately, a Singapore trader in the group complains that whatever is bought now is falling, they have to hold cash and wait for everything to calm down. Central banks of different countries also cannot remain inactive; Japan is crazily buying stocks, Switzerland suddenly lowers its interest rate, and financial institutions in the USA are trying to accumulate cash. The worst part right now is that in the details of American customs, there is a "retroactive clause" where cars with Chinese batteries must pay additional taxes, and all the supply chains that global automotive companies have built over the past five years will need to be destroyed and started anew. The scene is such that old traders say it is simply impossible to see, this is not a normal rise or fall, it is just a massive reset of the global economy!
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When this customs issue arose, the global market exploded immediately!
In the morning, when the Tokyo Stock Exchange had just opened, it fell to a level that triggered an automatic trading halt, shares of a giant like Samsung in Korea immediately dropped to the brink of a crash, the exchange panicked and injected trillions of won to rescue the market.
In China, renewable energy stocks are experiencing their worst times, with CATL shares falling almost 10% in a single day, and the yuan also dropping to its lowest level in several years.
The situation in Europe is even more tense: shares of the German chemical giant BASF fell by 12% in one day, and the company's CEO urgently sent a letter stating that the investment project worth hundreds of billions in China needs to be reconsidered. Shares of the parent company LV in Paris crashed, and the CFO even lost his voice during a conference call, saying that sales in the Chinese region had halved. The London Metal Exchange is even more impressive: one fund sold copper futures worth $7.3 billion in 11 seconds, causing a system failure.
The American Wall Street is also not in a better state: Tesla's shares fell below $150, and a Saudi magnate sold shares worth $750 million. The government bond market has turned into chaos, with professional traders saying that these fluctuations are even scarier than during the financial crisis of 2008. The worst is being faced by cryptocurrency traders: the price of Bitcoin fell below $51,000 during the day, and one major player secretly transferred over 20,000 Bitcoins to the exchange, leading to liquidations of positions worth $58 billion across the network.
Experts in the field are in a panic — a Hong Kong investment banker stated that within two hours clients redeemed 15% of funds, clients of the Swiss private bank prefer to lose 25% rather than not receive their money immediately, a Singapore trader in the group complains that whatever is bought now is falling, they have to hold cash and wait for everything to calm down.
Central banks of different countries also cannot remain inactive; Japan is crazily buying stocks, Switzerland suddenly lowers its interest rate, and financial institutions in the USA are trying to accumulate cash.
The worst part right now is that in the details of American customs, there is a "retroactive clause" where cars with Chinese batteries must pay additional taxes, and all the supply chains that global automotive companies have built over the past five years will need to be destroyed and started anew. The scene is such that old traders say it is simply impossible to see, this is not a normal rise or fall, it is just a massive reset of the global economy!