Bitcoin was edging lower after a sweeping 25% U.S. tariff on all steel and aluminium imports took effect Wednesday.
Risky assets continue to suffer on President Trump’s tariff announcements and after he refused to rule out a U.S. recession, Standard Chartered’s Geoff Kendrick said in a note.
A recovery in risky assets would require clarity over tariffs, which looks unlikely, or the Federal Reserve cutting interest rates sooner than expected, he said.
