Crypto and Stocks Drop Following Trump’s 25% Tariff Plan on European Imports

Bitcoin and Stocks Sink as Trump Confirms 25% Tariffs on EU

Bitcoin and the S&P 500 tumbled to session lows on Wednesday after U.S. President Donald Trump announced a 25% tariff on the European Union during his first cabinet meeting.

Key Highlights:

• Bitcoin (BTC) dropped below $84,000, losing over 5% in the past 24 hours.
• The S&P 500 slipped to its session low, signaling broader market unease.
• The CoinDesk 20 Index, which tracks digital assets, 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, according to the Financial Times.

Market Uncertainty Grows

Following a recent market downturn, some analysts speculated that the bottom might be in. However, Trump’s tariff announcement has reignited fears of economic strain, dampening investor confidence and triggering fresh selling pressure.