S&P 500 opened down 3.6% threatening top 10 all-time drop as Bitcoin attempts $82k hold

The SP 500 opened 3.65% lower on April 3, with pre-market pricing at $543.89, following President Donald Trump’s announcement of sweeping tariff policies.

[Update: In the moments after the market opened, it recovered 1% in early morning trading.]

The move, which introduces blanket 10% tariffs on all imports alongside targeted reciprocal tariffs of up to 48%, has injected renewed volatility into global markets.

Traders responded swiftly to the policy shift, which eliminates exemptions for critical categories, including raw materials and medical supplies.

The announcement reversed earlier optimism in digital asset markets, with Bitcoin falling from a session high of $88,500 to below $82,000 by press time, according to CryptoSlate.

The crypto market saw $486.55 million in liquidations within 24 hours, led by short positions across major exchanges, while BitMEX recorded liquidation primarily among longs.

Risk-off sentiment extended to traditional equities, with the FTSE 100 Index shedding 1.75% as of press time to 8,457.71. Meanwhile, the Polymarket prediction platform registered a sharp uptick in recession probabilities, with the likelihood of a 2025 U.S. recession climbing from 42% to 52% overnight, its largest single-day jump this year.

The SP 500 dropped steadily throughout Tuesday’s session, with a sharp after-hours selloff aligning with the policy’s broader economic implications. Analysts have raised concerns about inflationary pressures, heightened input costs, and unresolved supply chain dependencies.

Questions have also emerged over the tariff benchmarking data, as figures cited by the Trump administration diverge from WTO and World Bank references, raising doubts over the policy’s long-term viability.

Markets are now recalibrating in response to the return of trade-based economic brinkmanship. Bitcoin was last seen attempting to hold the $82,000 level amid continued pressure from liquidity-driven selloffs.

If the SP 500 closes near its expected opening price, it will be the 11th largest single-day drop in history.

The post SP 500 opened down 3.6% threatening top 10 all-time drop as Bitcoin attempts $82k hold appeared first on CryptoSlate.