President Trump in the Rose Garden of the White House on Wednesday. Chip Somodevilla / Getty Images

Bitcoin fell late Wednesday after President Donald Trump’s latest tariff announcement roiled markets. 

The leading cryptocurrency recently changed hands a bit above $83,000, dropping from near $88,000 just before Trump unveiled the trade policies late this afternoon. 

Trump formally announced reciprocal tariffs that hit a broad swath of countries, including a range of large U.S. trading partners. Stocks had risen during the day, but many were hard hit in after-hours action. 

Risk assets in particular pulled back, with the “QQQ” ETF tracking the tech-focused Nasdaq 100 index retreating some 4%.

Several crypto-related stocks also fell in after-hours trading. Strategy (MSTR), the big bitcoin buyer formerly known as MicroStrategy, was recently down about 7%. Crypto exchange Coinbase Global (COIN) fell 6%, while Robinhood (HOOD) dropped about 9%.

Compare Accounts

×

The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.