• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets

US stocks continue week-long dip amid massive Bitcoin sell off 

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
May 20, 2021
in Markets, Stock Market
OPEC, NSE, MTN, other developments and how they affect your pocket
Share on FacebookShare on TwitterShare on Linkedin

After a chaotic day at the financial market, Dow Jones futures, S&P 500 futures, and Nasdaq futures all sank somewhat late Wednesday. Overnight, the spotlight was on Cisco results, the Ford F-150 Lightning, and Bitcoin’s price swings which tanked related stocks in Wall Street.

Cisco shares fell 5.62 percent in extended trade after the data centre networking hardware maker announced earnings projections for the current quarter that was lower than expected.

The swings in futures came after a roller-coaster session on Wall Street prompted by a rapid sell-off in several speculative parts of the market due to a precipitous decrease in bitcoin price. Bitcoin-related stocks, such as Tesla, Coinbase, and MicroStrategy, led the market down Wednesday, with bitcoin falling as much as 30%.

RelatedStories

Growing uncertainties plunge stock markets

Dow surges as inflation performs below expectation

August 12, 2021
Wall Street finished green, DiDi IPO raises $4 billion

Wall Street finished green, DiDi IPO raises $4 billion

June 30, 2021

READ: Bitcoin might be worth $1,000,000 in 2025

The major indexes tested key levels Wednesday morning while Bitcoin cratered, only for equities and cryptocurrencies to rebound well off lows. The S&P 500 and Dow Jones found support at their 50-day moving averages while the Nasdaq held above last week’s lows. Still, they all closed down for a third-straight session. The S&P 500 fell 1.6 percent to its session low but recovered most of its losses to close down just 0.3 percent as the market stabilized and bitcoin rose off its low. After dropping 580 points at one point, the blue-chip Dow completed the session approximately 160 points lower. The Nasdaq Composite, which is heavily weighted in technology, finished the day flat, reversing a 1.7 percent loss.

Furthermore, Bitcoin plummeted to a little over $30,000 on Wednesday morning, then swiftly rebounded, though the price was still substantially lower than Tuesday. Bitcoin has been falling in value since Tesla (TSLA) CEO Elon Musk turned on the biggest digital asset last week, but Musk offered some new support on Wednesday.

READ: Nasdaq, Dow Jones and S&P 500 nosedive amid concerns on inflation

Coinbase (COIN) hit a new low after an outage on Wednesday morning. Before paring losses, Microstrategy (MSTR), Grayscale Bitcoin Trust (GBTC), and other Bitcoin plays dropped down.

Buy signals were flashed by Target (TGT), Facebook (FB), Google parent Alphabet (GOOGL), Maravai LifeSciences (MRVI), and Trip.com (TCOM). However, the current market situation is not conducive to fresh purchases.

Commodity-related stocks, such as miners, metals, and fertilizers, have all declined as crude oil, copper, lumber, and other commodity prices have fallen. Airlines, which had shown promise the day before, retreated on Wednesday. Financials were also a problem.

The first official indication that the Federal Reserve is considering slowing bond purchases came from policymakers at the Fed. The announcement boosted Treasury yields and the dollar, but it didn’t seem to have much of an effect on stocks.


Follow us for Breaking News and Market Intelligence.
Tags: Dow Jones futuresNasdaq futuresS&P 500 futures
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

Related Posts

Growing uncertainties plunge stock markets
Markets

Dow surges as inflation performs below expectation

August 12, 2021
Wall Street finished green, DiDi IPO raises $4 billion
Markets

Wall Street finished green, DiDi IPO raises $4 billion

June 30, 2021
U.S stock futures trade flat, Apple regains $2 trillion market value, Apple iPhone 11, Tax battle: Apple challenges $14 billion court case , Apple to pay $500 million settlement in lawsuit over slow iPhones, Apple supplier Foxconn to reopen manufacturing base in China, Apple donates 10 million face masks to healthcare workers, App developers can now challenge Apple store guidelines 
Market Views

U.S stock futures trade flat, Apple regains $2 trillion market value

September 10, 2020
Next Post

FG approves Lagos, Abuja, 2 other international airports as Special Economic Zones

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • 10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 
  • Geregu Power reports N13 billion Q2 2025 profit, up 61% YoY, beats Q2 forecast 
  • HealthCap Africa launches HealthTech Unicorns Report 2.0 in Lagos, charts bold future for Africa’s health innovation

Follow us on social media:

Recent News

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

July 12, 2025
Geregu Power PLC wins “Most Compliant Listed Company” at 2024 Made of Africa Awards  

Geregu Power reports N13 billion Q2 2025 profit, up 61% YoY, beats Q2 forecast 

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics