All articles tagged with #market drop
The Dow Jones Industrial Average dropped 550 points as bank stocks took a hit due to concerns over rising inflation and interest rates. The broader market also saw losses, with the S&P 500 and Nasdaq Composite both down. The drop comes amid ongoing economic news, including a strong jobs report and rising commodity prices.
Bitcoin fell below $30,000, while Ether traded just over $1,860, leading the drop among major tokens. Liquid staking tokens, including Lido's IDO governance tokens and Rocket Pool's RPL, also slumped. Traders likely took profits ahead of the U.S. Consumer Price Index for March and the much-awaited Shapella upgrade for the Ethereum network. The upgrade will allow investors to withdraw their ether staked on the Ethereum blockchain, which could prove bullish for ether as staking becomes more accessible to users.