Silver plunges 35% in historic reversal in worst intraday loss ever
Silver experienced its largest intraday loss ever, plunging over 35% before partially recovering, following a historic rally.Summary
Silver plummeted more than 35% on Friday, hitting around $74 in its worst intraday decline on record, though it later rebounded to approximately $82. This sharp reversal followed an unprecedented rally where silver surpassed $120 and gold reached record highs, driven by inflation hedging and speculative momentum. The selloff was attributed to profit-taking amid macro uncertainty, coinciding with President Donald Trump naming Kevin Warsh, viewed as hawkish, to lead the Federal Reserve, which firmed interest rate expectations. This volatility also saw the 10-year Treasury yield climb and the US dollar index rise. Silver's collapse erased over $1.2 trillion in market cap, allowing NVIDIA to briefly become the world's second-largest asset by market capitalization.
(Source：Crypto Briefing)