#CryptoTariffDrop
The value of Bitcoin decreased late on Wednesday after President Donald Trump's announcement of recent tariffs stirred market turmoil.
The leading cryptocurrency was recently traded just above $83,000, down from about $88,000 before Trump unveiled trade policies late Wednesday afternoon.
Trump officially announced mutual tariffs affecting a wide range of countries, including a group of major U.S. trading partners. Stocks rose during the day, but many were severely impacted during after-hours trading.
Risky assets, in particular, declined, with the QQQ exchange-traded fund tracking the tech-focused Nasdaq 100 dropping by about 4%.
Many cryptocurrency stocks also fell in after-hours trading. Shares of MicroStrategy (MSTR), the largest Bitcoin buyer, recently dropped by about 7%. The cryptocurrency exchange Coinbase Global (COIN) fell by about 6%, while Robinhood (HOOD) shares dropped by about 9%
