News View Non-AMP

Nikkei 225, Nasdaq & Nifty 50 Fall as Chinese Stocks Tank, Crypto Feels the Heat

Published by
Qadir AK

The Chinese stock market opened earlier on Monday, April 7, with significant losses. The wider Asia stock market recorded palpable losses as more investors fled the highly volatile global equity market towards bonds and gold markets. For instance, the Shanghai Composite index had dropped around 6.34 percent to trade about 3,130.17 on Monday during the early Asian trading session.

The Hang Seng Index in Hong Kong was heavily impacted by the ongoing stock market rout. At the time of this writing, the HSI had dropped around 10.70 percent to trade about 20,404. 

Expected Impact on Western Financial Markets

After China retaliated against the U.S. tariff trade last week, the European Union is expected to announce its reciprocal tariffs this week. Although some nations have opted to negotiate with the United States, major economies are likely to follow in the footsteps of Beijing in the coming days.

Consequently, the U.S. stock market is expected to take more hits later today, especially on major indexes led by the Dow, the S&P 500, and the Nasdaq.

“Big Wall Street trading desks will be manned in time for tonight’s futures open. They are preparing for more selling, intense selling. But you also hear talk about “value” and how some really good stocks are “oversold.” But bearishness is clearly the overwhelming sentiment,” Charles Gasparino, a senior correspondent with FOX and NY Post noted.

Impact on Crypto Industry

The crypto market has experienced delayed impacts from the ongoing global trade wars, thus briefly earning a title for a reliable store of value. However, Bitcoin price dropped below the crucial support level of about $80k on Sunday, thus triggering nearly $1 billion in crypto liquidations, with $850M involving long traders.

The wider crypto market will likely continue in bearish mode as fear leads more investors. Furthermore, on-chain data shows heavy liquidation of whale investors while others flee to the stablecoins market.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Best Crypto to Buy Now as Bitcoin Eyes $115k in July Rally

Bitcoin has rebounded strongly from its $100,000 support zone, holding steady above its 50-day moving…

June 9, 2025

Europe’s First Bitcoin Treasury Firm Plans $340M BTC Buy

Paris-based Blockchain Group is stepping up its Bitcoin game in a big way. The company…

June 9, 2025

Cardano Deviates Before Testing Resistance-Where is ADA Price Heading Next?

The Cardano (ADA) price is navigating a consolidation phase as it trades around $0.662 after…

June 9, 2025

Trump and Musk Set Off Market Alarm , But Could Wall Street Ponke Be the Real Power Move?

As Markets React to High-Profile Feud, One Meme Coin Quietly Rises Check the latest token…

June 9, 2025

Is the Musk-Trump Feud Real , Or a Setup? And Which Coin Will Rise From It?

When Two Titans Collide, the Market Feels Every Shock Elon Musk and Donald Trump’s clash…

June 9, 2025

Hyperliquid Traders Watch Closely as Binance May List HYPE Soon

Hyperliquid's native token HYPE is grabbing major attention lately over rumors of a Binance US…

June 9, 2025