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Trump announces 100% tariffs on chips, mining stocks tumble
Trump announces 100% tariffs on chips, mining stocks tumble originally appeared on TheStreet. President Donald Trump announced on Aug. 6 that he will impose tariffs as high as 100% on imports of chips and semiconductors to the U.S. Only those manufacturing these products in the U.S. can escape this charge, he added. Trump told reporters in the Oval Office that the new rate would apply to all chip and semiconductor imports except those from companies that have committed to manufacturing in the U.S. As reported earlier, the Bitcoin mining industry has taken a hit due to Trump's tariffs on chips. Mining is the process of using high-tech hardware to validate and secure transactions on a blockchain network that forms the infrastructure of the crypto industry. While the U.S. is the world leader among crypto mining countries, it is Asian countries such as China, Indonesia, Malaysia, and Thailand that are the key manufacturers of mining rig equipment on which even the miners based in the U.S. are announcement immediately sent shockwaves through the stocks of nearly all crypto mining companies. MARA Holdings (Nasdaq: MARA), a prominent Bitcoin miner based in Florida, fell 0.13% in after hours to $15.87 at the time of writing. Similarly, the Colorado-headquartered Riot Platforms (Nasdaq: RIOT) dropped 0.69% to $11.58. Singapore-headquartered miner Bitdeer Technologies (Nasdaq: BTDR) fell 0.62% to $12.89, and the Henderson, Nevada-headquartered CleanSpark, Inc. (Nasdaq: CLSK) fell 0.18% to $10.98. HIVE Digital Technologies (Nasdaq: HIVE) also fell 0.94% to $2.10. Hut 8 (Nasdaq: HUT) fell 0.19% to $20.65. The total crypto market cap stood at $3.76 trillion at the time of writing. Trump announces 100% tariffs on chips, mining stocks tumble first appeared on TheStreet on Aug 6, 2025 This story was originally reported by TheStreet on Aug 6, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
8 minutes ago
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Dollar holds losses on US economy concerns, Fed appointments
By Rocky Swift TOKYO (Reuters) -The dollar remained lower against major peers on Thursday, as expectations of Federal Reserve rate cuts grew and concerns swirled about partisanship creeping into key U.S. institutions. Initial jobless claims in the United States are under scrutiny after last week's disappointing nonfarm payrolls, which triggered a slide in the greenback. Meanwhile, the euro found support ahead of anticipated talks next week to end the war between Russia and Ukraine. Last week, President Donald Trump fired the official responsible for the labour data he did not like, and focus is centring on his nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank. "All those things suggest that we're seeing those political risks around the U.S. dollar increase, and on top of that you've got the weak data coming through," said Tony Sycamore, a market analyst at IG. Any progress in ending the war in Ukraine "is going to be a positive driver of the euro," he added. The dollar index, which measures the greenback against a basket of major peers, edged up 0.1% to 98.259 in early trade in Asia, after a 0.6% slide in the previous session. The U.S. currency was little changed at 147.36 yen. The euro stood at $1.1654, down almost 0.1% after a 0.7% jump previously. The U.S. Labor Department is expected to report that initial claims for unemployment benefits likely rose by 3,000 to 221,000 for the week ended August 2. Continued jobless claims for the week that ended July 26 are expected to increase slightly. Data last Friday showed U.S. employment growth was weaker than expected in July while the nonfarm payrolls count for the prior two months was revised down considerably, suggesting a sharp deterioration in labour market conditions. Fed funds futures traders are now pricing in a 94% probability of a 25 basis point cut at the Fed's September meeting, up from 48% a week ago, according to the CME Group's FedWatch Tool. In total, traders see 60.5 basis points in cuts this year. Trump could meet Russian leader Vladimir Putin as soon as next week, a White House official said on Wednesday, as the U.S. kept up pressure on Moscow to end the war in Ukraine. The president said on Tuesday he would decide on a nominee to replace outgoing Fed Governor Adriana Kugler by the end of the week and had separately narrowed the possible replacements for Fed Chair Jerome Powell to a short list of four. Sterling was steady at $1.33505. The Australian dollar was little changed at $0.65. Bitcoin edged 0.1% lower to $115,038.79. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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8 minutes ago
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Yanin Campos, 'MasterChef Mexico' contestant, dies at 38 after car crash
Campos competed on two consecutive seasons of the cooking competition series and also found success as a social media points Yanin Campos died at 38 after being injured in a car crash in Chihuahua, Mexico. Campos competed on two consecutive seasons of MasterChef Mexico before becoming a TikTok influencer. Authorities are investigating the accident to determine if excessive speed or distracted driving contributed to the Campos, who competed on two seasons of MasterChef Mexico and found success as a TikTok influencer and local TV personality, died Monday from injuries sustained in a car crash. She was 38. Campos' brother, Raúl Campos, announced the news on Facebook. "To family and friends. We inform and mourn the death of my sister Yanin Campos," he wrote in Spanish. The former culinary competitor died after driving into a parked vehicle on Saturday in her hometown of Chihuahua, the Mexican Secretariat of Public Security told local newspaper El Financiero. Following the crash around 6:30 a.m., Campos was rushed to a hospital and later died as a result of her injuries. El Financiero also reported that authorities are investigating whether the accident was caused by excessive speed or distracted driving. Campos began her career as a nurse, and hosted the local Chihuahua TV show La tertulia. Upon the show's conclusion, she auditioned for MasterChef Mexico and competed on its fourth overall season in 2018. She ultimately placed sixth, and returned the following year for the show's "La Revancha" season alongside other former competitors. In her second outing on the show, Campos placed 11th. Campos launched her TikTok account in 2020, and had just under 100,000 followers at the time of her death. Willi Velázquez, who competed against Campos during both of her MasterChef seasons, paid tribute to his late costar in an Instagram post containing an old video of the two competitors singing together on a bus. "This memory from 2018 just appeared on my cloud," he wrote in Spanish. "Such sad news for all of us who knew Yan… My deepest condolences to her entire family. Rest in peace."Ismael Zhu, who won MasterChef Mexico in 2018, commented his condolences on Velázquez's post, also in Spanish. "She will be missed," he wrote. Read the original article on Entertainment Weekly
