Bitcoin slips to around $83,000 as stocks fall
Bitcoin fell to around $83,000 as U.S. stocks moved broadly lower and Treasury yields climbed. The move came alongside weaker risk assets in early Wednesday trading.
By Scott Lehtonen And David Saito-Chung The Dow Jones Industrial Average and other major stock indexes moved broadly lower early Wednesday. Small caps fell the most as rapidly rising Treasury yields pressured equity markets. Meanwhile, minutes from the Federal Reserve's latest policy meeting are due later on the stock market today. 6%.
7%. 95 a barrel. 32%. Also, bitcoin moved down to around $83,000.
The Russell 2000 slipped more than 1%, indicating extra sensitivity among smaller firms in the face of higher borrowing costs. 7%. 6% after Wednesday's opening bell. STOCK MARKET TODAY: CHIPS FALL EN MASSE Memory chip and semiconductor companies paced the downside early.
5% in recent action. The popular ETF holds a cushion of gains above its rising 21-day exponential moving average, currently above 600. 37 within a near four-month base. It remains up more than 1% for the week so far.
Data storage firm Seagate, which slid 9% on Tuesday, fell more than 1%. Seagate and Western Digital, down nearly 2% and falling below its 200-day line, have weakened in recent days amid concerns that plans from Japan's Toshiba to scale up production of memory chips in coming years might impact pricing power of its competitors. m. ET NASDAQ-100 WINNERS, LOSERS: WORKDAY, ASTERA, TERADYNE Among the Nasdaq-100 stocks, Workday and Gilead Sciences rallied more than 1% each, making them some of the top performers just after the market open.
Meanwhile, Astera Labs and Teradyne sold off more than 4% apiece in morning action. m. 4% in early morning action. On the downside, Caterpillar declined nearly 2%, while Nvidia and Amazon both dropped nearly 1% apiece ahead of the market open.
m. ET EARNINGS MOVERS: CONSTELLATION BRANDS, NEOGEN Early Wednesday, Constellation Brands and Neogen were key earnings movers. Shares of Constellation tumbled 7% in premarket trading while Neogen stock soared more than 14%. Top Funds Bet Billions As This AI Stock Lights Up A Buy Zone STOCK MARKET TODAY: FED MINUTES, TREASURY AUCTION NEXT The Federal Reserve plans to release minutes from its Sept.
m. ET. That meeting concluded with the first Fed rate hike since 2023. Committee members also penciled in one more hike before year-end.
Further, the minutes could produce clues as to just how hard the group was or wasn't leaning in that direction. Early Wednesday, markets are pricing in 22% odds of a rate hike at the next meeting, down from 50% a week ago, according to the CME FedWatch Tool. m. ET.
Top Funds Sink Their Teeth Into Apple Stock. Sweet Breakout Ahead? Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today. com Investor's Business Daily - Your edge in the stock market This content was created by Investor's Business Daily, which is operated by Dow Jones & Co.
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