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Market Turmoil Hits Tech, Crypto, and Gold
The trading session opened with a sharp decline in major technology stocks, echoing earlier advice from Goldman's Privorotsky to monitor the performance of large-cap tech companies.
US Markets React: As the cash markets began trading, US equities experienced a swift sell-off, with the Nasdaq quickly giving up its overnight advances.
Microsoft Leads Declines: Losses intensified for Microsoft, contributing to the broader market downturn.
Crypto Plunge: The cryptocurrency market mirrored the chaos, with Bitcoin tumbling to its lowest level since December 18th. In just half an hour, over $200 million in leveraged crypto long positions were liquidated, marking a significant wave of forced selling.
Gold Drops Sharply: Gold prices also suffered, falling back below the $5,300 mark and adding to the day’s volatility.
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