Why Cardano Is Plummeting Today
Cardano (CRYPTO: ADA) is plunging on Thursday. The cryptocurrency lost 8.6% as of 1:50 p.m. ET and was down as much as 9% earlier in the day. The decline comes as the broader crypto market retreats amid growing economic concerns.
President Donald Trump's sweeping tariffs, announced yesterday from the White House, have triggered a risk-off sentiment that's hitting the cryptocurrency market particularly hard. The macro news overshadowed a positive announcement from the Cardano Foundation.
Trump announced extensive new tariffs on imports from countries around the globe yesterday from the White House Rose Garden. The tariffs are levied on almost every trading partner the U.S. has and their scale and breadth has shocked the market. Some investors had hoped the tariffs would be more limited in scope.
Source Fool.com
