Evening digest: EU-US trade deal standoff, oil prices, Bitcoin crash

Global markets turned cautious on Monday as Washington’s new 15% tariff rattled trade partners and cast uncertainty over last year’s EU-US deal.

PayPal drew early takeover interest after a steep share slump, while oil climbed to a six-month high on geopolitical tensions.

In crypto, Bitcoin slid toward key support levels as investors trimmed risk exposure amid renewed policy and market volatility worldwide.

EU-US trade deal in limbo

European and British officials warned that President Donald Trump’s new 15% “global” tariff could upend trade deals struck with Washington last year, as they pressed the White House for clarity on how the levy will be applied.

Trump said the tariff is effective immediately and can stay in place for up to 150 days without congressional approval, after a US Supreme Court ruling knocked down his earlier approach.

EU trade figures said “a deal was a deal,” while the European Parliament’s trade committee planned an emergency meeting to weigh next steps.

Markets in Europe opened lower as the uncertainty spread.

PayPal attracting takeover interest

PayPal is drawing preliminary takeover interest after a steep stock slide that has nearly halved the payments company’s market value, Bloomberg News reported.

The report said PayPal has held meetings with banks and other financial institutions as unsolicited approaches came in, with at least one large rival weighing a bid for the whole company.

Other potential buyers are said to be looking only at specific PayPal assets, and the talks remain at an early stage and may not lead to a deal.

PayPal declined to comment.

Oil prices at 6-month high

Oil prices hit a fresh six-month high on Monday as traders weighed US-Iran nuclear diplomacy against new tariff uncertainty.

Brent crude rose 62 cents, or about 0.9%, to $72.38 a barrel by 1432 GMT, while US WTI gained 69 cents, or 1%, to $67.17.

Brent had climbed more than 5% last week as worries grew over a potential US-Iran military flare-up, reaching its highest since July 2025.

Analysts at PVM said attention is now on Thursday’s next round of talks and the market fallout from Washington’s tariff upheaval after a Supreme Court ruling struck down the previous import-tariff programme earlier.

Bitcoin looking at $60K support level

Bitcoin slid below $65,000 on Monday, briefly touching about $64,830 as a weekend selloff extended and investors pulled back from risk assets.

The drop came as markets weighed fresh uncertainty around President Donald Trump’s plan to lift US retaliatory tariffs to 15%, alongside rising geopolitical tensions in the Middle East.

Bitcoin hit roughly $64,324 at its low, its weakest level since Feb. 6, before paring some losses.

The world’s largest cryptocurrency is now down about 24% year to date, while gold has jumped around 20% over the same period.