Wall Street’s reckoning: How Trump’s words sparked a global sell-off

Wall Street’s reckoning: How Trump’s words sparked a global sell-off

The broad sell-off we’re witnessing today, March 11, 2025, is no small blip—it’s a visceral reaction to mounting recessionary fears that have investors on edge. The numbers tell a stark story: the S&P 500 has shed 2.7 per cent in a single session, while the Nasdaq has plummeted 4 per cent, marking its steepest drop since September 2022.

These declines have dragged the S&P 500 8.7 per cent below its all-time high set on February 19, with the Nasdaq a staggering 14 per cent off its recent peak. What’s fuelling this fire? A weekend interview with US President Donald Trump, where he candidly refused to rule out a recession and framed the current moment as a “period of transition.” Those words have hit the markets like a sledgehammer, amplifying uncertainty at a time when clarity is desperately needed.

Let’s unpack this. Trump’s comments come against a backdrop of escalating tariff war tensions and a flurry of government firings, both of which are stoking fears that the US—the world’s economic powerhouse—could be teetering on the brink of a downturn. Investors, ever sensitive to shifts in sentiment, have responded by fleeing risk assets en masse.

The bond market reflects this flight to safety: the 10-year US Treasury yield dropped 8.8 basis points to 4.213 per cent, while the 2-year yield fell even more sharply, declining 11.6 basis points to 3.883 per cent. Falling yields signal that investors are piling into Treasuries, betting on a slowing economy where safer assets reign supreme.

Meanwhile, the VIX index—the so-called “fear gauge”—surged 19.2 per cent to 27.86, its highest level since the Federal Reserve’s rate cut in December. That spike underscores the palpable anxiety coursing through Wall Street.

The ripple effects aren’t confined to the US Across the Atlantic, Europe’s STOXX 600 slipped 1.3 per cent, and Germany’s DAX fell 1.7 per cent, mirroring the dour mood. In Asia, the picture is equally grim: Hong Kong’s Hang Seng Index tumbled 1.8 per cent, while China’s Shanghai Composite edged down a more modest 0.2 per cent.

Asian markets, which often take their cues from overnight US performance, opened lower today, tracking Wall Street’s rout. This synchronised sell-off speaks to a broader retreat in global risk sentiment, a collective exhale as investors brace for what might come next.

Commodities and currencies are feeling the heat too. Brent crude oil slid 1.5 per cent to US$69.28 per barrel, weighed down by a planned supply increase from OPEC+ in April and softening US economic activity. Gold, typically a haven in times of turmoil, bucked the risk-off trend and dipped 0.7 per cent, perhaps reflecting profit-taking after recent gains.

The US Dollar Index, a measure of the greenback’s strength against a basket of currencies, nudged down 0.2 per cent, suggesting that even the dollar’s safe-haven status isn’t immune to the broader uncertainty.

Then there’s the cryptocurrency market, which has taken a beating amid this storm. Bitcoin, the bellwether of digital assets, fell more than three per cent on Tuesday morning in Asia, dipping to its lowest level since November. Ether, the second-ranked token, saw an even sharper decline, dropping as much as six per cent to US$1,756—an intraday low not seen since October 2023—before paring some losses.

These moves came hot on the heels of a tech-led sell-off in US equities, with the Nasdaq 100 Index plunging 3.8 per cent in its worst day since October 2022. Crypto, often seen as a barometer of risk appetite, is buckling under the same pressures battering stocks—namely, fears that Trump’s tariff policies and chaotic governance could kneecap economic growth.

What’s driving this pervasive unease? Data offers some clues. The New York Fed’s latest survey of consumer expectations, released for February, paints a worrisome picture. One-year inflation expectations ticked up to 3.13 per cent, above forecasts, signalling that Americans anticipate stickier prices ahead.

More troubling, the survey revealed growing public concern about credit conditions and the job market, alongside expectations of steeper price hikes for essentials like gas, rent, and food. This erosion of consumer confidence is a red flag—households are the backbone of US economic activity, and their pessimism could presage a self-fulfilling slowdown.

Across the globe, the data is a mixed bag. In the Eurozone, the Sentix investor confidence survey for March climbed to -2.9, a sign of cautious optimism among investors. Germany, the region’s economic engine, posted a split result: industrial production rose, but exports declined, hinting at uneven recovery.

In Japan, the February Eco Watchers survey—which gauges sentiment among small and medium enterprises—came in weaker than expected, suggesting that grassroots confidence is faltering. These disparate signals underscore the uneven terrain global economies are navigating as they grapple with US-centric risks.

Trump’s rhetoric isn’t helping. His warning of a “little disturbance” from trade wars with Canada, Mexico, and China has Wall Street buzzing with concern. Strategists and economists are revising their outlooks, with many now assigning higher odds to a US economic downturn.

Posts on X reflect this jittery sentiment: one user noted the Nasdaq’s US$520 billion market cap wipeout in a single day, likening it to twice the value of top altcoins, while another pointed to Trump’s unpredictable decision-making as a deterrent to both domestic and foreign investors.

A Reuters dispatch highlighted pushback from Trump’s economic adviser Kevin Hassett, who dismissed recession talk tied to tariff uncertainty, but the damage seems done—stocks keep sliding, and consumer pessimism is deepening.

From my vantage point, this feels like a pivotal moment. The markets are signaling something more than a routine correction; they’re grappling with a confluence of risks that could tip the scales. Trump’s tariff threats, if enacted, could disrupt global supply chains and inflate costs, hitting US consumers and businesses alike. His government firings add another layer of instability, undermining confidence in policy continuity.

Couple that with a public increasingly anxious about jobs and credit, and you’ve got a recipe for stagnation—or worse. The bond rally and VIX spike suggest investors are battening down the hatches, preparing for a storm that may or may not materialise.

Yet, there’s a flip side. Transitions, as Trump calls them, can be messy but necessary. If his administration navigates this period deftly—say, by tempering tariff rhetoric with targeted stimulus or stabilising governance—the US might emerge stronger.

The New York Fed’s inflation uptick could even prod the Fed to hold rates steady, providing a buffer against a hard landing. Europe’s improving investor confidence and Germany’s industrial resilience offer glimmers of hope that the global economy isn’t entirely hostage to US whims.

Still, the data and market moves I’ve pored over lean bearish. The S&P and Nasdaq’s sharp drops, the VIX’s leap, and crypto’s stumble all point to a risk-off mindset that’s hard to shake. Asia’s early trading losses and Brent crude’s slide reinforce the narrative of softening demand.

For now, I’d wager we’re in for more volatility—Wall Street’s jitters won’t subside until Trump’s next move becomes clearer. I’ll keep digging into the numbers and sentiment, but one thing’s certain: the world’s eyes are on Washington, and the stakes couldn’t be higher.

 

Source: https://e27.co/wall-streets-reckoning-how-trumps-words-sparked-a-global-sell-off-20250311/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

Ether Rock NFT to Sell For $600K? Bull Market Logic Says Yes

Ether Rock NFT to Sell For $600K? Bull Market Logic Says Yes

With Bitcoin hitting $52K and the entire crypto market riding on an upward trajectory, it’s safe to say we’ve entered a bull market.

Most of the top 10 non-stablecoin cryptocurrencies have enjoyed double-figure percentage returns over the week, signalling unified momentum to buy, buy, buy.

Basking in the glory of this market momentum, investors are finally reaping their rewards after months, if not years of agony.

But just how far is this burst of optimism spreading? After all, the crypto market is notoriously renowned for bogus projects and worthless assets. The infamous Ether Rock NFT collection is a prime example of this.

Rock N Sold

Developed by an anonymous creator in December 2017, Ether Rocks is a CC0 JPEG clipart collection of 100 rocks, which vary in colours but are identical in shape and size.

The project is inspired by Gary Dahl’s 1975 satirical Pet Rock in which people subscribed to the humorous idea of purchasing a rock as a pet. Each rock was packaged in custom cardboard boxes, complete with ventilation holes and straw bedding. Dahl’s absurd concept took the market by storm, selling over 1 million Pet Rocks for $4 each.

Ether Rocks takes a leaf out of Dahl’s bizarre marketing campaign by utilizing the power of community, hype, and satire, whilst offering zero utility to the user.

All 100 Ether Rocks have already been sold but global auction house Sotheby’s is listing one of the NFTs in a sealed-bid auction between 14-21 February 2024.

“By bringing the iconic Pet Rock concept into the digital age through blockchain technology, Ether Rocks invites us to reconsider the boundaries of value, ownership, and cultural significance in the ever-evolving landscape of unconventional trends,” Sotheby’s explains on its auction page.

With an estimate of $500,000 to $700,000, the NFT’s price is mindblowing for non-crypto natives and amazes even the most seasoned crypto enthusiast. Considering each Ether Rock was minted starting at 0.01 ETH, with the last Rock selling at 10 ETH at the time, today’s price of these NFTs is nothing short of astronomical.

Yet, its suggested price range could be regarded as conservative. Earlier this week, Ether Rock #19 was purchased for 279 ETH – worth $739,015 at the time. Its value is now closer to $800,000.

Crypto betting site Polymarket reflects a 63% chance that the Ether Rock will sell for over $600,000 at Sotheby’s auction.

In fact, if the Rock sells for the anticipated target of $600,000, it will only be less than half the price of the collection’s highest sale. In 2021, the most expensive Rock was sold for 420 ETH, costing $1,397,277 at the time.

Rolling Stones, Rolling Markets

The strength of Ether Rocks has largely been on par with the strength of the overall crypto market. When the project hit its all-time high sale in November 2021, the crypto market was in extreme bull mode. Ethereum was above $4K and Bitcoin cleared $60K.

Sotheby’s Ether Rock auction comes at a perfect time as the market is generating momentum in today’s bull cycle.

Whether Ethereum can return to its previous highs is yet to be seen but its strength will certainly be reflected in the price that Ether Rock sells for as investors look for diverse avenues to park their money in.

As Blockhead contributor Anndy Lian explains, “The crypto market is anticipated to be more bullish. This brings the degen narrative back to the scene where this is a way to show their social & cultural capital of the NFTs.”

“Wrapped Ether Rock and BAYC are not just digital assets, but also symbols of status and identity in the NFT community,” Lian added on his blog. “Owning a Wrapped Ether Rock gives the holder a sense of prestige and history, as they own a piece of the early days of NFTs.”

 

Source: https://www.blockhead.co/2024/02/15/ether-rock-nft-to-sell-for-600k-bull-market-logic-says-yes/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

Bybit And Digital Artist Per Kristian Stoveland Sell Out Exclusive Collection, Open Edition Sales Ongoing

Bybit And Digital Artist Per Kristian Stoveland Sell Out Exclusive Collection, Open Edition Sales Ongoing

DUBAI, UNITED ARAB EMIRATES – 22 September 2023 – Bybit, the world’s third most visited crypto exchange, have released their second digital art drop as part of their partnership with Oracle Red Bull Racing. The limited-edition collection of 200 NFTs were sold via Dutch auction on Sept. 20, and sold out within one hour for a total of 74.5 ETH ($168,434).

The collection: “Pursuit” by Per Kristian Stoveland, launched in conjunction with the Japan Grand Prix,and holders of the original Velocity Pass NFT had exclusive access to the auction. In the 24 hours since launch “Pursuit” has racked up over 106ETH ($113,433) in secondary sales. Sales of Per Kristian Stoveland’s open edition collection “Echo of Intensity” are ongoing on Bybit.

Per Kristian Stoveland, who designed the collection, is a generative artist hailing from Oslo, Norway. “Pursuit” is the second release as part of the Velocity Series, a revolutionary Web3 experience that brings together the talents of the world’s premier digital artists.

Drawing on his mastery of generative art and his innovative use of p5js, a creative coding framework, Per K’s collection encapsulates the raw power and velocity of Oracle Red Bull Racing’s RB19 race car. The collection is a symphony of light streaks that tear through desolate landscapes, igniting a captivating dance of dust. As part of the Velocity Series, “Pursuit” is curated in collaboration with AOI, a foundation for emerging art and technology.

“Bybit and Oracle Red Bull Racing are proud to pioneer the future of art and technology through the Velocity Series,” said Anndy Lian, head of partnerships at Bybit. “This collaboration transcends traditional boundaries, ushering in a new era where speed, creativity, and digital art harmoniously intersect.”

The Velocity Series showcases the intersection of cutting-edge innovation and creative expression, offering art enthusiasts, collectors, and racing fans the chance to engage with this fusion of art and racing data.

Hashtag: #Bybit #VelocitySeries #RedbullRacing #BlockchainArt

The issuer is solely responsible for the content of this announcement.

 

Bybit

Bybit is a top-five cryptocurrency exchange established in 2018 that offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For media inquiries, please contact: For more information please visit: For updates, please follow: 

 

Source: https://www.moneyfm893.sg/media-outreach/bybit-and-digital-artist-per-kristian-stoveland-sell-out-exclusive-collection-open-edition-sales-ongoing-12942/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j