Stock slides to end Monday’s session
Stock ended in red on Monday, but returned from the session low late in the afternoon.
Dow Jones Industrial Average 971.82 points (2.48%) settled at 38,170.41. S&P 500 Finished at 5,158.20, Nasdaq Composite Losing 2.55% and closed at 15,870.90.
– Lisa Kailai Han
Bitcoin climbs to the highest level of the month as stocks fall
The Bitcoin logo can be seen in the picture of this illustration, taken on December 5th, 2024 in Warsaw, Poland.
Jaap arrivals | nuphoto | Getty Images
Bitcoin It reached the highest level of the month and at one point it reached $88,557.01 as the stock market was sold again. It ended up being about 3% higher, trading at $87,040.70.
“The move is not about enthusiasm, it’s about fatigue. The risk market is spinning,” said Ben Kurland, CEO of Crypto Research Platform Dyor. “What we’re seeing is the slow bleeding from an overly expanded position to a safer liquidity. Bitcoin bounce is not driven by momentum traders, but the result of bystanders returning to the market while digesting macro uncertainty.
Bitcoin was trading more along with more stocks for much of the month amid tariff-fueled volatility and uncertainty, but slowly separates. It increased by about 5% in April S&P 500 It has decreased by more than 8% during that period. Meanwhile, gold is up 9.5% per month.
According to Katie Stockton of FairLead Strategies, if Bitcoin can significantly clear the $88,000 level, it would be a positive short-term development for Crypto Asset, putting the next resistance near $95,900.
– Tanaya Macheel
The dollar reaches its lowest level in three years
US Dollar Bill
Jose Luis Gonzalez | Reuters
The ICE US Dollar Index is trading at the lowest level in three years.
The latest drop in Greenback comes after President Donald Trump’s criticism of Federal Reserve Chairman Jerome Powell on Friday. Evercore ISI vice chairman Krishna Guha said on Monday in the “Squawk Box,” and those comments by Trump could add more fuel to the trend of foreign investors coming out of the US.
“We see a clear signal that the president doesn’t even like the idea that he might try to remove the Fed’s chair. In recent weeks, there has been some degree of confidence in US economic policy decisions. We’ve seen a combination of this very strange pressure on long-term bond yields that combines weaker dollars.
– Jesse Pound
