Trump’s new tariff schedule targeting eight European countries sparked sharp declines in stocks and cryptocurrencies, with leveraged crypto positions worth up to $875 million forcibly closed.
U.S. President Donald Trump announced a tariff plan imposing a 10% levy from February 1, 2026 on goods from eight European nations—Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and the UK—escalating to 25% in June if talks stall. The policy, linked to disputes over Greenland, prompted immediate market turmoil. Bitcoin fell about 3% into the low-$90,000 range, equity futures weakened, and gold prices rose as investors pursued safe havens. Reports estimate $750–$875 million in leveraged long crypto positions were liquidated, intensifying volatility. European leaders signaled possible retaliatory measures, and market makers tightened spreads while institutional and retail traders adjusted risk exposure.