📉 Following Trump's tariff announcements yesterday, the S&P 500 is currently down -4.02% in Thursday trading. In the 2020's, there have only been 5 worse performing days: 🗓️ March 16, 2020: -11.98%​ 🗓️ March 12, 2020: -9.51%​ 🗓️ March 9, 2020: -7.60%​ 🗓️ June 11, 2020: -5.89% 🗓️ September 13, 2022: -4.32% And while stock markets have reached 7-month lows, crypto (despite what you may be seeing from the FUD on your timelines) has held up rather well. Bitcoin still sits at 81.9K, over +6.1% above the 77.0K local bottom from 3 weeks ago. Bitcoin remains relatively insulated from tariff-induced volatility due to its intangible and borderless nature, making it slightly more immune to direct import and export taxes (though it is still impacted due to ties to global economic health, in general). Unlike traditional stocks, cryptocurrencies aren't typically impacted by trade disruptions or international supply chain concerns triggered by political decisions. As a result, crypto markets have proven notably resilient during this recent period of stock market turbulence.