Bitcoin slides to $82,000 as Trump tariffs jolt stock market
Published on: 2025-05-16 06:55:40
Bitcoin and other cryptocurrencies were under pressure Thursday after President Donald Trump's big tariffs reveal jolted the stock market.
The price of the flagship cryptocurrency was last lower by 4% at $82,413.22, according to Coin Metrics. Ether fell 7% and the token tied to Solana dropped 13%.
Meanwhile, stocks cratered, with the broad market S&P 500 on track for its worst day since September 2022. Shares of Coinbase and MicroStrategy lost more than 7% each.
Investors were rattled after Trump unveiled sweeping tariffs of at least 10% and even higher for some countries, intensifying fears of a global trade war.
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