Wall St stumbles as crypto rout hits sentiment: ASX to open slightly higher
US stocks fell on Monday, snapping a five-day winning streak across the major indices as volatility from the cryptocurrency market spilled into equities.
The S&P 500 lost 0.53% to close at 6,812.63, the Nasdaq Composite slipped 0.38% to 23,275.92, and the Dow Jones Industrial Average dropped 427 points, or 0.9%, to 47,289.33.
Bitcoin slid around 6% to fall below $86,000 in its worst single session since March, extending a two-month drawdown. The decline dragged crypto-exposed stocks lower, with heavy selling across names such as Coinbase and Strategy.
Tech and AI trade mixed
Broadcom and Super Micro Computer retreated more than 4% and 1%, respectively, as profit-taking continued across parts of the artificial intelligence…
