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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%.

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