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Bitcoin fell on Wednesday night after President Donald Trump’s latest tariff announcement roiled the markets.
The leading cryptocurrency has recently traded a bit over $83,000. It had been near $88,000 shortly before Trump revealed his trade policies this afternoon.
Trump announced formal reciprocal tariffs, which hit a wide range of countries including many of the largest U.S. trading partner. Stocks rose during the day but were heavily impacted in after-hours trading.
Risk assets have been particularly weak, with the “QQQ”, ETF tracking tech-focused Nasdaq 100 index declining by about 4%.
Several crypto-related shares also fell during after-hours trades. MSTR, the large bitcoin buyer previously known as MicroStrategy was down by about 7%. Coinbase Global, the crypto exchange (COIN), fell 6%. Robinhood (HOOD), on the other hand, fell about 9%.
