Most cryptocurrencies rallied on Tuesday as the risk appetite improves and demand on bitcoin surges, with bitcoin passing the $90,000 barrier once more. 

The White House said nearly 18 countries already presented proposals for trade deals with the US.

White House Spokeswoman Caroline Levett said that work is being done to reach a trade deal with China despite there not being direct talks between Presidents Trump and Jinping.

US Treasury Secretary Scott Bessent said the trade war with China is currently unsustainable, expecting the situation to settle down soon.

The International Monetary Fund announced a major cut in its forecasted for global GDP growth in 2025, revising them downward to 2.8% from 3.3% in previous January forecasts, while cutting 2026 forecasts to 3.0% from 3.3%.

The IMF attributed the downgrade to the impact of the US tariffs, which disrupted global trade and supply chains.

The steep downgrade reflects the growing concerns about the ramifications of US trade policies, as major tensions flare with trade partners such as China and the EU, which could lead to an even slower worldwide growth.

The IMF cut US GDP growth forecast for 2025 from 2.7% to 1.8%, but still put a 40% chance of a US recession this year.

Ethereum

On trading, ethereum surged 8.5% on Coinmarketcap as of 18:54 GMT to $1706.

Gold prices lost ground on Tuesday as the dollar rallied against most major rivals, with the precious metal losing its haven appeal as concerns about the trade war calmed down.

The White House said nearly 18 countries already presented proposals for trade deals with the US.

White House Spokeswoman Caroline Levett said that work is being done to reach a trade deal with China despite there not being direct talks between Presidents Trump and Jinping.

US Treasury Secretary Scott Bessent said the trade war with China is currently unsustainable, expecting the situation to settle down soon.

The International Monetary Fund announced a major cut in its forecasted for global GDP growth in 2025, revising them downward to 2.8% from 3.3% in previous January forecasts, while cutting 2026 forecasts to 3.0% from 3.3%.

The IMF attributed the downgrade to the impact of the US tariffs, which disrupted global trade and supply chains.

The steep downgrade reflects the growing concerns about the ramifications of US trade policies, as major tensions flare with trade partners such as China and the EU, which could lead to an even slower worldwide growth.

The IMF cut US GDP growth forecast for 2025 from 2.7% to 1.8%, but still put a 40% chance of a US recession this year.

Otherwise, the dollar index rose 0.6% as of 18:33 GMT to 98.8, with a session-high at 98.8, and a low at 98.01.

On trading, gold spot prices fell 0.7% as of 18:34 GMT to $3401.4 an ounce.

US stock indices rose on Tuesday amid attempts to recoup some of the hefty losses sustained yesterday as US President Trump threatened to blow away the independence of the Federal Reserve. 

The International Monetary Fund announced a major cut in its forecasted for global GDP growth in 2025, revising them downward to 2.8% from 3.3% in previous January forecasts, while cutting 2026 forecasts to 3.0% from 3.3%.

The IMF attributed the downgrade to the impact of the US tariffs, which disrupted global trade and supply chains.

The steep downgrade reflects the growing concerns about the ramifications of US trade policies, as major tensions flare with trade partners such as China and the EU, which could lead to an even slower worldwide growth.

The IMF cut US GDP growth forecast for 2025 from 2.7% to 1.8%, but still put a 40% chance of a US recession this year.

On trading, Dow Jones rallied 2.1%, or 800 points to 38,970 points, while S&P 500 rallied 2.1%, or 107 points to 5264 points, as NASDAQ jumped 2.3%, or 362 points to 16,232 points.

The International Monetary Fund announced a major cut in its forecasted for global GDP growth in 2025, revising them downward to 2.8% from 3.3% in previous January forecasts, while cutting 2026 forecasts to 3.0% from 3.3%.

The IMF attributed the downgrade to the impact of the US tariffs, which disrupted global trade and supply chains.

The steep downgrade reflects the growing concerns about the ramifications of US trade policies, as major tensions flare with trade partners such as China and the EU, which could lead to an even slower worldwide growth.

IMF’s growth forecasts 

The International Monetary Fund cut US GDP growth forecast for 2025 from 2.7% to 1.8%.

It UK GDP growth forecast to 1.1% in 2025 from 1.6%, and to 1.6% in 2026 from 1.5% in previous forecasts.

The IMF expects global inflation to hit 4.3% in 2025, and 3.6% in 2026.

It raised UK inflation forecasts to 3.1% in 2025 from 2.4%, and expects inflation to reach 2.2% next year.

The IMF expects the Bank of Japan to raise interest rates at a slower pace than previously expected due to US tariffs.