S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff war

The brief convergence in S&P 500 and Bitcoin volatility reflects the ongoing turmoil in traditional markets.

The S&P 500 Index briefly experienced Bitcoin-level volatility in the wake of US President Donald Trump’s April 2 “Liberation Day” tariff announcement, underscoring the panic and fear gripping traditional markets amid the ongoing trade war. 

Bloomberg analyst Eric Balchunas alerted his followers on X that the S&P 500’s volatility, as measured by the “SPY US Equity Hist Vol” chart, reached 74 in early April, exceeding Bitcoin’s (BTC) 71 level. 

Source: Eric Balchunas

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