Rising yields mean bond prices are falling and increase the cost of borrowing for the U.S. government, which could exacerbate the federal deficit, already strained by heavy debt levels.

Investors worry that a prolonged trade war could weaken global trade, disrupt supply chains, and slow U.S. economic growth. This could further pressure U.S equity markets and bitcoin, which tends to mirror the ebbs and flows of U.S. markets.

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