U.S. Consumer Confidence Falls Sharply, Crypto Markets Firm After Tariffs

U.S. consumer confidence has fallen sharply, with the latest University of Michigan survey showing consumer sentiment dropping from 57.0 to 50.8, close to its lowest level in three years, and inflation expectations spiking to 6.7 per cent over the next year. At the same time, investors sold US government bonds and the US dollar, causing the price of gold to hit a record high of $3,240 per ounce. The cryptocurrency market fared well, with Bitcoin up 4 per cent to stabilise at $82,000 and mainstream tokens SOL and AVAX up 6 per cent each. Some analysts believe that the market volatility stemmed from the exit of highly leveraged market participants rather than fundamental changes.