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Stocks and bitcoin slide as nerves weigh on market
Wall Street kicked off the week on a sour note, with stocks and bitcoin tumbling as a risk-off attitude spread through markets. The Dow was down 705 points, or 1.5%. The broader S&P 500 fell 1.39%. The tech-heavy Nasdaq Composite fell 1.45%. Wall Street’s fear gauge, the VIX, jumped 15%. CNN’s Fear and Greed index traded in “extreme fear” and hit its lowest level since early April. Tech stocks have come under pressure as concerns linger about expensive valuations and enormous spending plans by Big Tech, according to Mohit Kumar, chief economist and strategist for Europe at Jefferies. Meanwhile, bitcoin slid ... (full story)
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