GLOBAL MARKET MELTDOWN DEEPENS ⚠️

Asia:
*Japan’s Nikkei 225 Entered A Bear Market

*South Korea Kospi Index Fall 7%, Singapore's Equity Benchmark Fall 9%

*Taiwan’s tech-heavy equity benchmark slid 9.7%, the most on record, India’s key stock index slumped as much as 5%, the most since early June

*Hong Kong's Hang Seng Index Closes Down 13.2%, Biggest One-Day Drop Since 1997

CHINA:
*CSI Index Fall 7%
*China is mulling frontloaded stimulus to counter the tariffs

*Asia Credit Default Swaps Widen Most Since March 2020
*MSCI Asia Pacific Index slid by the most since 2008

Europe Open Lower:
*DAX plunged more than 10% at the open before trimming losses now down 7%, Stoxx 600 fell more than 5%, FTSE 100 Index Falls 5%

UNITED STATES:
*Traders now expect the Fed to cut another five times this year

*Goldman Sachs Cuts 2025 GDP Forecast To 0.5% From 1%

*S&P 500 FUTURES DOWN 3.5%, NASDAQ 100 FUTURES DOWN 4%, RUSSELL 2000 FUTURES DOWN 4.3%
*S&P 500 On Track For A Bear Market

*VIX Surge Above 50
*OIL Fall 5%, Hits 4 Year Low

Pre-Market Open:
APPLE DOWN 5%
MICROSOFT DOWN 5%
GOOGLE DOWN 5%
NVIDIA DOWN 6%
META DOWN 5%
AMAZON DOWN 5%
TESLA DOWN 8%
COINBASE DOWN 11%
MICROSTRATEGY DOWN 12%

CRYPTO:
*BTC DROPPED BELOW $76K, ETH DROPPED BELOW $1,500

JUST IN: 🇸🇬 Singapore's stock market suffers worst single-day crash in over 16 years.

@WatcherGuru

hearing some upticks in suicide talk now that every market is tanking

people w their life savings in equities and/or crypto etc.

if you're even remotely considering it,
please reach out to someone
please talk about it

you don't have to go through it alone

JUST IN: 🇪🇺🇺🇸 Europe says they are ready to negotiate tariffs with the United States.

@WatcherGuru

*PAKISTAN APPOINTS CHANGPENG ZHAO AS STRATEGIC ADVISOR ON CRYPTO: BBG

*CNBC ANCHORS ARE UNSURE WHERE THE HASSETT COMMENT CAME FROM

Blockworks: Solana - March 2025 Update

Solana onchain activity declined across all fronts in March, with the exception of stablecoins.

> Real Economic Value: $71M, -64% MoM
> App Revenue: $131M, -62% MoM
> DEX Volumes: $97B, -50% MoM
> Stablecoin Supply: $12.2B, +8.5% MoM

Source: https://x.com/blockworksres/status/1909216068134191158?s=52&t=txFAbiSPTdLLDlAYj9X_AA

Wintermute Launches QuoteChain, A "Twitter L2" That Distributes Based On Social Activity

🔗 velo.xyz

JUST IN: World's largest asset manager BlackRock says it's increasingly cautious about US stocks.

@WatcherGuru

USTR GREER: CHINA HAS NOT INDICATED THAT IT WANTS TO WORK TOWARDS RECIPROCITY
(@WalterBloomberg)

• White House announces 104% tariffs on China effective at noon - [IH]

WHITE HOUSE SAYS 104% TARIFFS ON CHINA WENT INTO EFFECT NOON BECAUSE CHINA HAS NOT REMOVED ITS RETALIATION: FOX SOURCE

The introduction of global trade tariffs has marked a change in world order we have not seen in more than 50 years. Free trade has been the key component that has spurred increases in productivity and economic growth that has led to the biggest secular bull run the world has ever seen. Marking a shift from an open to a protectionist stance will have ramifications that will take years to play out, unless Trump is to fully U-turn on his tariff plans. I view this as a very low possibility. This will be a considerable headwind to global risk on assets over the giga long term.

Crypto wise, the structural decline of active devs in recent times is probably the most worrying thing to me. Back in the last cycle we could look at developer activity and take solace knowing that our industry was still benefiting from a secular tailwind. Fast forward 2-3 years and not only have we produced nothing of particular interest or importance, but the outlook for the future is even worse than it was then.

In the past cycle we had the promise of ETFs to look forward to, a better regulatory regime under a pro-crypto administration as light at the end of the tunnel. Now that it’s here and it’s (once again) underwhelmed expectations, i see very little on the horizon that can generate escape velocity from crypto’s natural Ouroboros.

Over the next few weeks to months i hope to do less in crypto, both on the long or short side as I believe that to be the wisest thing to do. It’s no longer contrarian to be a believer waiting for the new bull market. It is however contrarian to begin exploring new greenfields.