Bitcoin Dips Amidst U.S. Stock Market’s $1.11 Trillion Loss Led by Big Tech Selloff

U.S. stock market experienced a dramatic loss of $1.11 trillion, with Big Tech stocks leading the decline.

The loss was highlighted by a significant drop in Amazon’s stock , which declined by over eight percent.

Equity markets witnessed a broad selloff impacting confidence across segments. Nasdaq suffered a 2.2% fall alongside the S&P 500 and Dow Jones declines.

Economists cited ongoing trade tariffs and rising inflation as additional triggers. These factors reportedly impacted both traditional and crypto markets , causing a selloff in Bitcoin and other digital assets.

Despite the turmoil, industry leaders have not publicly commented on the situation, leaving investors wary about future disclosures. Analysts point to macroeconomic pressures similar to those experienced in March 2020.

The ongoing selloff may lead to further financial and regulatory scrutiny. Major players in crypto markets, such as Bitcoin , are experiencing sharp volatility, indicative of potential long-term impacts.

“The massive liquidations in Bitcoin suggest a widespread panic in risk assets, correlated with the downturn in Big Tech stocks” – Source: BeInCrypto