Highlights
- Apple, Microsoft, and Nvidia each dropped over 15%, posting $1 trillion in combined valuation in just three trading days.
- Bitcoin price stayed above $80,000, while total crypto market cap held at $2.7T despite volatility in global risk assets.
- Altcoins like XRP, BNB, and Cardano saw fresh demand asinvestors exited equities and sought hedge positions in digital assets.
Crypto market capitalization closed the week above $2.7 trillion mark on Saturday, April 5, while Trade war panic wiped over $1 trillion off US tech stocks including Apple, NVIDIA and Microsoft.
Microsoft, Apple and Nvidia all lose $3 trillion valuation as Trump tariffs Wipe Out $1 trillion in 3 days
As Trump announced fresh tariffs on Wednesday, global Markets reacted swiftly. The Dow Jones Industrial Average dropped over 3000 points plunging 7.4%, while Crude Oil (WTI) also tumbled more than 10% as manufacturers and commodities traders brace for a blip in global commerce.
But the most dramatic losses came from the United States’ technology sector. Apple, Microsoft, and NVIDIA—three of the most valuable companies globally—shed more than $1 trillion in market capitalization combined after Trump announced the sweeping tariffs on Wednesday.
Apple alone fell 15.02% on the week, while NVIDIA’s stock lost 15.4% following supply chain concerns tied to the semiconductor industry. Microsoft declined 15.9%, extending its weekly loss to the steepest seen since October.
Notably, all three stocks which traded above the $3 trillion mark in the past year have now plunged below that historic threshold.
At press time, on Saturday April 5, Apple (AAPL) sits atop with $2.83 trillion market cap, while Microsoft (MSFT) and NVIDIA (NVDA) follow with current valuations of $2.7 and $2.3 trillion valuations respectively.
Historically, such synchronized declines among the biggest U.S. corporations suggest investors are reacting to systemic market risks rather than, individual stock performance outlook.
This affirms that China’s swift retaliation—announcing new tariffs on U.S. exports within 48 hours—has sparked fears of a sustained trade war.
The looming supply chain risks has prompted investors to pivot away from US stocks towards alternative markets like private credit and cryptocurrencies.
Altcoins Brace for Breakout as Crypto Market Cap Holds at $2.7T Amid Trade War Concerns
Bitcoin price has held firmly above the $80,000 mark, despite US Trade tariffs sparking intense market turbulence across global financial markets over the past week. BTC’s resilient price action has caught investor’s attention, with the positive sentiment extending towards altcoins.
On Wednesday, the White House triggered widespread investor anxiety by unveiling sweeping new tariffs on imports from multiple trading partners, including China, India, Mexico, and the European Union.
Early market reactions show that cryptocurrencies withstood the sell-pressure while US Stocks, and manufacturing commodities markets nose-dived.
As seen in the Coingecko chart above, the aggregate crypto market capitalization stands at $2.7 trillion at press time, keeping weekly timeframe losses below the 8% mark. Not only has Bitcoin price held above the $82,000, the resilient performance extended to the crypto sector as a whole.
As seen in the chart, top ranked altcoins like XRP, BNB and Cardano are holding key support levels around $2, $590 and $0.65 respectively, as global markets saw major sell-off response to Trump’s tarrfis.
But in the crypto-sector as weak hands exited, and BTC held steady, altcoin found new buyers as as investors exiting us stocks sought assets unexposed to trade tensions. In effect, Crypto markets only declined 8% in the past week, while Microsoft, Nvidia and Apple all plunged by more than 15%.
As investors exited those markets, the displaced capital found its way into the crypto markets, which has kept top altcoins that Ethereum, XRP, BNB. and Solana consolidating near the $1,800, $2, $600.
For context, of the top 5 ranked cryptocurrencies are posting BTC, ETH, BNB and XRP are all posting less than 1% losses on the weekly timeframe.
Meanwhile, Solana the worst performer among the top-ranked altcoins this week, settles at $119 at press time, having only plunged 5%, despite active bearish catalyst from token unlocks, and upcoming FTX payouts.
Frequently Asked Questions (FAQs)
1. Why did tech stocks like Microsoft, Apple, and Nvidia lose value this week?
2. How did cryptocurrencies perform amid the stock market crash?
3. What altcoins showed resilience during the market volatility?
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