Time for Bitcoin?: US stocks plummet as China-US trade war continues

Today America has awoken to a very bloody Monday, as two of the countries most time-honored stock indexes, the Dow Jones futures, and the S&P 500 futures note some pain in store for the coming week… the crypto markets, on the other hand, are citing continued gains, but are these two happenings connected?

According to Market Watch, Wall Street is in for a rough start of the week with the Dow Jones futures down around 500 points, and the S&P 500 futures citing a 57-point drop.

The stock markets appear to be reacting to the news of China raising tariffs on US goods, seemingly in retaliation to the Trump administration’s raising of duties on $200 billion of Chinese imports from 10% to 25% last week.

This tit for tat trade war seems to be having a direct and negative impact on the US markets, and according some may even start trickling down into other asset classes: