Global markets slid as US stock futures, precious metals, and cryptocurrencies dropped sharply following President Trump’s nomination of Kevin Warsh to lead the Federal Reserve, raising fresh uncertainty over interest rates and market stability.
Bitcoin fell to its lowest level in nearly one year after breaking below the $80,000 support zone, triggering heavy liquidations and renewed fear across the crypto market. The last comparable low was seen in April 2025 at $76,273.
Bitcoin plunged $2,200 in just 45 minutes, hitting a new yearly low of $80,800. The sudden selloff triggered $381 million in liquidations and erased more than $70 billion from the global crypto market without any major news catalyst.
XRP dropped to about $1.60 after breaking key support levels, extending losses from earlier sessions. The move reflects market-wide liquidation pressure rather than token-specific news, with traders now watching for stability near new support.
Gold prices climbed to $5,535.47 per ounce after a sharp daily rise, fueled by strong investor demand and growing global uncertainty. The metal has gained more than 60 percent over the past six months.
Tesla reported its lowest annual profit since the pandemic, as slowing vehicle sales and rising costs weighed on earnings despite the company’s push into artificial intelligence and autonomous technology.
US stocks closed mixed as health insurers plunged on proposed Medicare rate limits. UnitedHealth led losses, pushing the Dow lower, while the S&P 500 hit a new record and tech stocks lifted the Nasdaq.
Gold retreated slightly to about $5,053 per ounce after briefly topping $5,100, while silver stayed near record highs, as investors continued to move into precious metals amid global policy uncertainty and debt worries.