According to The Kobeissi Letter, S&P 500 companies have generated $1.2 trillion in revenue from Chinese consumers over the past 12 months, as reported by Apollo. This figure is four times the total US trade deficit with China and represents roughly 7% of the S&P 500’s total revenue exposure. For crypto traders, this substantial linkage highlights that any macroeconomic volatility or regulatory policy shifts in China could impact US equity performance, potentially driving correlated volatility in the cryptocurrency market due to cross-asset risk sentiment and capital flows. Source: The Kobeissi Letter on Twitter (May 10, 2025).

According to Zac_Pundi, S&P 500 companies earned four times more revenue from China compared to the US-China trade deficit, highlighting the significant financial ties between US corporates and China (source: Zac_Pundi on Twitter, May 8, 2025). For crypto traders, this underscores the potential impact of US-China economic relations on both traditional equity markets and digital assets, as stronger corporate earnings from China may boost investor risk appetite and liquidity flows into cryptocurrencies.