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
fell more than 200 points Sunday night, while S&P 500 futures
and Nasdaq-100 futures
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
slid 3.5%, its second straight weekly decline and its steepest drop since the week of Oct. 30, 2020. The Nasdaq
slipped 0.3%, snapping its four-week winning streak, and the S&P 500
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
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
and dogecoin
also fell Sunday.

Leave a Comment