US stocks slip as bitcoin and crypto-related shares fall
US markets retreated on Monday, with the S&P 500 ending its five-day winning streak as bitcoin and crypto-related stocks recorded some of the day’s steepest losses.
US stocks gave back some of last week’s gains on Monday, with several major indices slipping as risk appetite weakened.
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The S&P 500 fell 0.5%, bringing an end to a five-day winning streak that had helped drive markets higher the previous week.
The sharpest declines were seen in crypto-related stocks after bitcoin dropped below 86,000 dollars.
Shares linked to digital assets, including mining and blockchain-focused companies, were among the worst performers of the session.
The pullback reflects continued volatility in cryptocurrency markets and the sensitivity of related equities to movements in bitcoin’s price.
Investors will now look ahead to economic data and central bank commentary for further direction in the days to come.