Asian Markets Rally and Bitcoin Slumps Amid US Trade Policy Shifts

Global financial markets experienced significant volatility following US President Donald Trump's announcement of plans to hike global tariffs from 10% to 15%. This move coincided with a major ruling by the US Supreme Court, which struck down key portions of the administration's trade agenda under the International Emergency Economic Powers Act of 1977. Asian equity markets reacted positively to the judicial setback for the administration, with Hong Kong’s Hang Seng Index surging more than 2.3%. Conversely, the cryptocurrency market faced a sharp downturn as Bitcoin dropped below the $65,000 threshold amid heightened risk aversion. The divergence highlights a complex market sentiment where judicial constraints on trade powers offer temporary relief to equities while tariff threats weigh on risk assets. Investors are now closely monitoring the potential for retaliatory measures from major trading partners and the broader implications for global economic stability.