Since the current U.S. president took office on January 20, 2025, the overall market capitalization of the cryptocurrency market has fallen by almost $1 trillion, according to data published by analyst Lark Davis.
The decline in total capitalization from $3.66 trillion to little less than $2.62 trillion has investors on edge as they navigate a turbulent regulatory and geopolitical environment.
Although significant fluctuations have always been associated with digital assets, the scope and timing of this decline are drawing attention. In a widely shared post, Davis called attention to the decline by asking, “Are you tired of winning yet?” – a reference to the Trump administration catchphrase that is currently being tested by the prolonged decline in cryptocurrency.
However, the heat is felt by more than just cryptocurrency!
As The Kobeissi Letter pointed out, U.S. stocks have also been shook. Officially, the bear market that was last observed on June 16, 2022, has returned to the Russell 2000. According to the Kobeissi Letter on X, the S&P 500 stocks lost a record $120 billion every hour, or around $2.9 trillion.
Following Trump’s announcement of a baseline 10% tariff, the markets went into overdrive. This was followed right away by a flurry of retaliation tariffs on both allies and enemies.
The Magnificent Seven take a record one-day beating
Apple, Amazon, Meta, Alphabet, Nvidia, Tesla, and Microsoft are the “Magnificent Seven” stocks that are reportedly aiming for a record-breaking $1 trillion single-day loss.
Apple, the group’s largest loser, fell more than 9% as investors voiced concerns about potential additional restrictions on its global supply chains, particularly in China and India. Amazon fell 8.9% as analysts warned that tariffs would spread to its cloud infrastructure, logistics, and advertising businesses.
Due to the possibility of advertising pullbacks, Meta Platforms had a 7.8% decline. Technically exempt for semiconductors, Nvidia dropped 7% in contrast; however, tariffs on completed goods containing chips remain in effect. 6.5% of Tesla skidded. Alphabet and Microsoft gave dropped 3.7% and 2.3%, respectively, albeit not being as badly damaged.
The market is “going very well,” according to President Trump, who said on April 3 that he expects the “market to boom.”
