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Bitcoin down as Trump policies roil markets

(Reuters)
7 Mar 2025 16:00

London (AFP)

Global stock markets tumbled and the dollar retreated Friday as uncertainty over US President Donald Trump's trade policies roiled markets and traders awaited key US jobs data.

Bitcoin plunged as much as 5.7% after Trump signed an executive order to establish a "Strategic Bitcoin Reserve" without planning any public purchases of the cryptocurrency.

The unit recovered somewhat to trade down around one percent lower.

European and Asian equities were in the red despite Trump's move on Thursday to delay tariffs on Canadian and Mexican goods covered under a North American trade agreement until April 2.

The halt offers temporary relief to automakers.

But Trump has said he will not modify broad tariffs for steel and aluminium imports, which are due to take effect next week.

Investors were awaiting Friday's US jobs report for February, a key indicator of the health of the world's largest economy.

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