Bitcoin Bounces Off Overnight Low Amid Stock Market Decline
Bitcoin Bounces Off Overnight Low
Bitcoin bounces as the U.S. stock market exhibits volatility with the Dow falling 250 points. The S&P 500 appears to be on a four-day losing streak. Meanwhile, the Nasdaq drops but shows slight resilience as crypto assets like Bitcoin regain some lost ground amid a turbulent trading environment.
Market Overview
U.S. stocks were coming off their session lows in afternoon trading on Tuesday. The S&P 500 was falling just 0.3%, after tumbling as much as 1.5% in morning trading. If the large-cap index closes higher today, it would be its largest intraday comeback since April 30, according to Dow Jones Market Data.
Sector Performance
- The Dow Jones Industrial Average was off 0.7%.
- The Nasdaq Composite was dropping 0.6% as of 2:20 p.m. Eastern time, according to FactSet data.
- Eight of the 11 S&P 500 sectors were trading in the green on Tuesday afternoon.
- Only the consumer-discretionary and information-technology sectors were each tumbling over 1%, according to FactSet data.
Investors are closely monitoring the developments in both the stock and cryptocurrency markets as they look for signs of recovery.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.