Cryptocurrency markets tumbled Tuesday alongside a broader selloff in U.S. equities as President Trump’s renewed tariff threats against Europe sparked concerns of an escalating trade war.

Bitcoin fell below $88,000 during the session before recovering to $89,752 as of press time. The total cryptocurrency market capitalization declined 2.34% over 24 hours to $3.03 trillion. Ethereum dropped 4.78% to $3,000, while Solana fell 2.3% to $128.36, per Coinmarketcap data.

The crypto decline mirrored losses across traditional markets. The S&P 500 dropped 2%, the Nasdaq Composite retreated 2.4%, and the Dow Jones Industrial Average sank 1.8%, erasing year-to-date gains for the major indexes in the worst trading session since October.

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