The world’s largest cryptocurrency, Bitcoin, stood at $1,14,734.7 on Friday, August 1, dropping as much as 1.5 per cent, according to a Bloomberg report.
A global stock selloff continued for a sixth day, marking the longest streak since September 2023, after US President Donald Trump announced tariffs on trading partners across the world.
The MSCI All Country World Index decreased by 0.3%. Europe’s Stoxx 600 index declined 1%, reaching its lowest point in a month. Pharmaceutical stocks, including Novo Nordisk A/S, Sanofi SA, GSK Plc, and AstraZeneca Plc, led the drop following Trump’s call for drug companies to reduce prices. Futures on the S&P 500 and Nasdaq 100 declined approximately 0.5%, despite two days of strong megacap tech earnings.
Meanwhile, Trump revealed a series of new tariffs, ranging from 10% to 41% for countries with trade surpluses with the US.
