Bitcoin Extends Decline to $113,189 and Ethereum Drops to $3835 as Trump Escalates US-China Trade War

Reuters

Oct 11

Bitcoin, the world's largest cryptocurrency by market value, extended declines on Friday after U.S. President Donald Trump escalated his trade conflict with China.

Trump on Friday said he was raising tariffs on Chinese exports to the U.S. to 100% and imposing export controls on "any and all critical software" in a reprisal to recently announced export limits by China on rare earth minerals critical to tech and other manufacturing.

The spat shook global financial markets, sending the benchmark S&P 500 Index sliding by more than 2%.

Bitcoin was last down 7.01% at $113,189 as of 19:12 ET.

Ethereum, the world's second-largest cryptocurrency, fell 12.21% to $3835 at 19:12 ET.

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