AI-Summary – News For Tomorrow
The Independent seeks public support to fund its on-the-ground reporting on critical issues like reproductive rights, climate change, and Big Tech, exemplified by their documentary “The A Word.” They emphasize providing unbiased, accessible journalism without paywalls, relying on donations for financial sustainability. Recent reporting covers Donald Trump’s proposed 100% tariffs on Chinese software, triggering significant crashes in Bitcoin and Ethereum, as investors worried about trade war impacts shifted to safer assets. Wall Street stocks also experienced notable losses, reflecting broader market anxieties related to the escalating trade tensions.
News summary provided by Gemini AI.
Two major cryptocurrencies have crashed after Donald Trump imposed 100 per cent tariffs on “any and all critical software” from China, as trade tensions continue escalate between the two countries.
Bitcoin and Ethereum both saw record liquidations as investors reacted to fears over a trade war, which saw many crypto investors move their money to stablecoins or safer assets.
He wrote: “Based on the fact that China has taken this unprecedented position, and speaking only for the USA, and not other nations who were similarly threatened, starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a tariff of 100% on China, over and above any tariff that they are currently paying.
“It is impossible to believe that China would have taken such an action, but they have, and the rest is history. Thank you for your attention to this matter!”
He also said that he had been due to meet with Chinese President Xi Jinping in two weeks on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea, “but now there seems to be no reason to do so.”
The value of Ethereum slumped by 11.2 per cent to $3,878.
Other cryptocurrencies including XRP, DOGE and Ada fell around 19 per cent, 27 per cent, and 25 per cent in the last 24 hours, respectively.
Stocks on Wall Street stocks had also tumbled, recording their biggest single-day losses since April.
The S&P 500 dropped 2.71 percent, while the Dow Jones Industrial Average dipped about 878 points and the NASDAQ Composite slid 3.58 percent by the Wall Street closing bell at 4pm ET Friday.
