Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's Monday, April 7th. Thanks for joining us today. I'm Julie Morgan.

Crypto Falls. Apple and Tesla get target cuts since Saudi Arabia cuts oil prices for Asia.

Bitcoin and major cryptocurrencies suffered a significant sell-off in early trade, with Bitcoin sliding below the $75,000 mark for the first

time since November 7th of last year. The most popular cryptocurrency traded at around $74,776 and 46 cents at 3 a.m. Eastern time,

erasing nearly all the gains since Donald Trump's election victory in early November.

The digital currency is pressured by widespread bearish sentiment across the crypto market and ongoing struggles in U.S. stocks

amid Trump's aggressive tariff policies.

The total market capitalization of all cryptocurrencies fell about 12% to $2.47 trillion, roughly

where it stood when Trump sealed his win, according to data from Coin Gecko.

Other notable crypto decliners include ripple down 11.8% and stellar down 9.3%.

The sell-off comes amid heightened global trade tensions with President Trump outlining

reciprocal import tariffs on products coming worldwide into the U.S. last week.

Crypto names in the red pre-market include micro-strategy down 12.4%, clean spark down 12.9%

and Mara Holdings down 11.4%.

President Trump's sweeping global tariffs announced last week constitute a disaster for Tesla

and Apple, according to Wed Bush securities analyst Dan Ives, who substantially lowered his

price target for both companies. Ives, who is traditionally one of Tesla and Apple's most bullish followers and advocates on Wall Street

slash Tesla's price target from $550 to $315, an over 40% cut, and reduce Apple's PT from 325 to 250, a 20% fall.

Wedbush's bear case for Apple is $160.

The firm maintained its outperform rating for both stocks.

Saudi Arabia, the world's largest oil exporter, has lowered its crude oil prices for

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