Bitcoin dropped below $96,000 for the first time since May while major tech stocks continued to slide on Friday morning.
Tesla and Intel headlined broader losses across tech stocks as trading opened Friday, continuing a slump for major indexes a day after markets posted their worst declines in more than a month.Key Facts The Dow Jones Industrial Average dropped roughly 550 points , while the S&P 500 declined 0.
3% and the Nasdaq erased 1.1% as trading opened Friday, after the indexes dropped 1.6%, 1.6% and 2.2% on Thursday, respectively, in their largest single-day losses since October. Shares of Tesla slumped to around $392 after declining 2.4%, adding to losses across the tech-heavy Nasdaq from Intel , AMD , Alphabet , Palantir , Nvidia and Broadcom , among others. Goldman Sachs headlined losses across the Dow as shares traded down 2.4%, followed by Nike , Walmart , JPMorgan Chase , Apple and IBM . Other major semiconductor stocks were also hit by a premarket selloff, with AMD, Broadcom, Qualcomm, and Intel dropping 2.39%, 1.12%, 1.43%, and 2.51%, respectively.Bitcoin Leads Cryptocurrency Rout The cryptocurrency market was also hit by a selloff, with the price of bitcoin dropping below $96,000 for the first time in six months before paring back earlier losses. The world’s most valuable cryptocurrency is down more than 6.3% over the past 24 hours, falling to around $96,466 after earlier falling to as low as $94,592, the lowest level for the leading cryptocurrency since May. Ether, the token with the second-largest market cap, dropped to $3,130, down more than 10.3% over the past 24 hours. Other major cryptocurrencies, including XRP, Solana’s SOL and Binance’s BNB, are down 8.8%, 10.5% and 6.2% respectively. Crypto-linked stocks similarly declined, including MicroStrategy and Coinbase .
U.S. Premarket Bitcoin Price Fed Rate Cuts
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