A significant downturn in Big Tech stocks precipitated a massive $1.11 trillion loss in the U.S. stock market, with Amazon leading declines by dropping approximately 8%.
The Nasdaq Composite, S&P 500, and Dow Jones Industrial Average all recorded notable decreases, underscoring heightened investor uncertainty. Concerns surrounding persistent inflation and global trade policies contributed to the market’s turbulence, driving a broad shift away from risk assets.
Mirroring the risk-off sentiment gripping traditional markets, Bitcoin’s price plunged below the $130,000 threshold during the selloff period. The sharp drop was accompanied by heavy liquidation activity, signaling panic among digital asset investors.
Analysts identified the concurrent weakness in Big Tech equities and cryptocurrencies as symptomatic of broader macroeconomic pressures. The synchronized decline highlights the increasing correlation between major tech stocks and digital assets during periods of market stress.