News
Bitcoin, Crypto Stocks Fall as Tariff Fears Grip Markets
Key Takeaways
Bitcoin and crypto-related stocks fell Monday, extending last week's losses in the wake of President Donald Trump's latest tariff announcement .
The price of Bitcoin was down to around $76,000 early Monday, after dropping below the $80,000 threshold over the weekend. The cryptocurrency had traded above $100,000 as recently as February.
Shares of Strategy ( MSTR ), the Bitcoin buyer formerly known as MicroStrategy, plunged about 12%, while crypto exchange Coinbase ( COIN ) lost 9%. Bitcoin miners Riot Platforms ( RIOT ) and Mara Holdings ( MARA ) also dropped about 9%. Robinhood, the popular trading app, saw its shares tumble more than 10%.
This comes as the Trump administration showed no signs over the weekend of backing down from its plan to impose wide-ranging tariffs and China announced
retaliatory measures
Friday, sending the major indexes lower. (Read
Investopedia's
live coverage of
today's market action here
.)
Read the original article on Investopedia