Bitcoin and Markets Tumble as Trump Announces 25% Tariffs on EU
Bitcoin and the S&P 500 fell sharply on Wednesday after U.S. President Donald Trump confirmed a 25% tariff on the European Union, adding fresh uncertainty to global markets.
Key Market Reactions:
- Bitcoin (BTC) dropped below $84,000, falling over 5% in 24 hours.
- The S&P 500 hit session lows, reflecting heightened investor caution.
- The CoinDesk 20 Index, a broad measure of the digital asset market, declined 2.3% on the day.
“We have made a decision, and we’ll be announcing it very soon. It’ll be 25 per cent,” Trump stated, as reported by the Financial Times.
Renewed Market Volatility
After a period of relative stability, Trump’s tariff announcement has reignited fears of economic disruption, leading to renewed selling pressure across both traditional and crypto markets.
