Stock Market Drops After Tariff Announcement, Bitcoin Holds Ground

The U.S. stock market took a hit following President Trump’s announcement of global tariffs on Wednesday, leading to significant declines in the Nasdaq Composite and S&P 500 indices. The Nasdaq experienced a notable drop of nearly 5.5% on Thursday, marking one of the largest single-day losses since 2000. This decline is reminiscent of market drops observed during the dot-com bubble burst of 2000-2001 and the 2008 financial crisis. Conversely, Bitcoin (BTC) demonstrated resilience, rebounding slightly after an initial dip following the tariffs announcement. According to Glassnode data, the cryptocurrency increased by 0.7% on Friday.