Cryptocurrency share price crashes as S&P 500, Dow Jones, Nasdaq are down. Check top losing stocks, top gainers

Bitcoin price crashed on Monday and so as Cryptocurrency stocks. BTC, which was soaring around $125,000 in October, dropped below $86,000. That’s down roughly 7 per cent from a day earlier. That in turn sent stocks lower across the crypto industry. Coinbase Global sank 5.4 per cent, and Robinhood Markets fell 4.4 per cent, for example. Strategy, the company that used to be known as MicroStrategy and now raises money just to buy bitcoin, lost 10.3 per cent. S&P 500 slipped 0.1 per cent and was on track to break a five-day winning streak. The Dow Jones Industrial Average was down 215 points, or 0.5 per cent, and the Nasdaq composite was 0.1 per cent lower.

On the winning side of Wall Street was Synposys, which rose 4.3 per cent. It said Nvidia is investing $2 billion in its stock as part of an expanded partnership. Nvidia, which has become Wall Street’s most influential stock, swung from an early loss to a gain of 1.6 per cent. The market, meanwhile, had a mixed reaction to what seems like a strong start for the holiday shopping season. Consumer spending during the Black Friday and Cyber Monday retailing bonanza was expected to exceed expectations, despite uncertainty over the outlook for the U.S. economy.

Ross Stores rose 1.2 per cent, and Williams-Sonoma climbed 2.5 per cent. But Best Buy fell 1.9 per cent.


Last week’s rally was largely due to rising hopes that the Federal Reserve will cut its main interest rate next week to help shore up the slowing job market. Such hopes are still high, with traders betting on a nearly 88 per cent chance the Fed will cut at its next meeting, according to data from CME Group.

But yields for longer-term Treasurys nevertheless rose in the bond market Monday. It was part of a worldwide climb for yields after the head of the Bank of Japan hinted at a possible hike to interest rates there.

When bonds are paying higher yields, they can attract investors who otherwise would buy stocks or cryptocurrencies. Higher yields undercut prices for all kinds of investments, particularly those seen as the most expensive.

FAQs

Q1. What are top three indexes of U.S Stock Market?

A1. Top three indexes of U.S Stock Market are -- S&P 500, Nasdaq, and Dow Jones.

Q2. How is Nvidia share price performing?

A2. Nvidia, which has become Wall Street’s most influential stock, swung from an early loss to a gain of 1.6 per cent.