Exchange-traded funds including the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF (SPY) both declined in morning trade.
Monday morning, the yield on the 10-year Treasury fell to 1.74%. Treasury yields for the 10-year note dipped below 1.75% on Friday.According to CoinDesk, the price of Bitcoin fell about 12%
over the weekend, trading as low as $33,046 Monday morning before paring some losses. On Nov. 10, bitcoin reached a record high of $68,990.Monday, the ProShares Bitcoin Strategy ETF (BITO) declined by 12%. Coinbase (COIN) fell nearly 11%, also hitting an all-time low.
Dow Jones sell-off in the stock market worsens
In a disappointing performance Friday, the Nasdaq fell 7.5% last week, its worst weekly loss since the start of the Coronavirus pandemic two years ago.
The Dow Jones Industrial Average fell 1.3%, falling below its 200-day moving average. For the first time since June 2020, the S&P 500 closed below average, down 1.9%.
Tesla stock traded at its lowest level since October once again, falling 8%. Shares are below their 50-day moving average once again.
The stock reached an all-time high of 1,243.49 on Nov 4th but ended Thursday about 20% below that high.
According to IBD MarketSmith chart analysis, AIG fell 2.6% Friday, closing right at its 50-day moving average
as the stock forms a cup-and-handle base with a 62.35 buy point. Shares of AIG fell 2% Monday.
Stocks in the Dow Jones dropped further Friday, with Apple stock
down 1.3%, falling below the key 50-day line. According to IBD MarketSmith’s chart analysis, shares are about 6% past a 153.27 buy point out of a cup-and-handle base. The stock fell 1.5% Monday.
Microsoft shares fell 1.85% Friday, as the top Dow Jones stock approached its long-term 200-day moving average line. On Monday, shares fell 2%.