Cryptocurrency Stocks Crushed! Core Scientific Plummets Over 17%

TradingKey – U.S. crypto equities were hammered on Monday, July 8, after President Donald Trump unveiled a sweeping new round of tariffs, triggering a broad sell-off across Wall Street. The Dow, S&P 500, and Nasdaq all closed sharply lower, with Crypto-Stocks among the hardest hit.

Among the biggest decliners:

• Core Scientific (CORZ) collapsed 17.3%,
• CleanSpark (CLSK) dropped nearly 8%,
• Bakkt (BKKT) fell more than 6%.

Core Scientific Stock Price Chart – Source: TradingKey.

The sell-off followed Trump’s announcement that the U.S. would impose 25% to 40% tariffs on imports from Indonesia, Myanmar, Thailand, and other nations starting August 1. Additionally, countries aligning with anti-American BRICS policies will face an extra 10% tariff.

The move has rattled global markets. China responded by reiterating its opposition to “tariff wars and trade wars,” while the European Union said negotiations with the U.S. are ongoing. Portugal’s finance minister expressed optimism that the EU and U.S. could reach a low-tariff agreement, potentially under 10%.