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Dow futures sink 200 points, bitcoin continues its slide

Dow futures sink 200 points, bitcoin continues its slide

U.S. stock-index futures and cryptocurrency prices fell late Sunday, following Wall Street’s worst week since October.

Dow Jones Industrial Average futures
YM00,
-0.72%
fell more than 200 points Sunday night, while S&P 500 futures
ES00,
-0.60%
and Nasdaq-100 futures
NQ00,
-0.27%
also sank.

Stocks fell sharply Friday after hawkish comments from St. Louis Federal Reserve President James Bullard that suggested interest rates should be raised as soon as late 2022, about a year ahead of the Fed’s perceived schedule.

For the week, the Dow
DJIA,
-1.58%
slid 3.5%, its second straight weekly decline and its steepest drop since the week of Oct. 30, 2020. The Nasdaq
COMP,
-0.92%
slipped 0.3%, snapping its four-week winning streak, and the S&P 500
SPX,
-1.31%
fell 1.9%, ending a three-week winning streak.

Meanwhile, cryptocurrencies continued to fall over the weekend, following a recent crackdown by China against crypto miners. Bitcoin
BTCUSD,
-2.91%
fell as low as $33,400 on Sunday, before recovering above the $35,000 level. Bitcoin is down about 9% over the past five days. Prices of ethereum
ETHUSD,
-3.81%
and dogecoin
DOGEUSD,
-7.45%
also fell Sunday.

About the author

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Julia Mangels

Julia has handled various businesses throughout her career and has a deep domain knowledge. She founded Stock Market Pioneer in an attempt to bring the latest news to its readers. She is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

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