Eric Demuth, co-founder of BitPanda, stated that Trump's policies led to a decline in the stock market in order to obtain cheap debt. He believes this is not a trade war, but a war on yields.

<p><img src="https://static.sosovalue.com/sosovalue/2025/04/08/a9241020-84ab-4069-8ed1-48456d59868f.webp"></p>"It's not a trade war, but a war on yields," says Eric Demuth, the co-founder of BitPanda, a German crypto and stock exchange.

The co-founder of BitPanda discusses the impact of Trump's policies on the stock market.