Bitcoin wicks below $20,000 after a brutal $1.6 trillion U.S. stock market rout.
The move came amid a stocks rout triggered by Consumer Price Index inflation data for August coming inDespite still being lower than July, the market had hoped for a quicker cooling of inflation more broadly and hence the chance of a quicker loosening of policy by the Federal Reserve.
With that prospect now appearing slim, equities indexes hemorrhaged value, with Apple losing $154 billion — the sixth-biggest daily loss in U.S. stock market history. Tech selloff on Tue has been particularly costly for Apple. World’s most-valuable comp lost $154bn in market value - a wipeout that ranks among top 10 worst single-day market value losses in US stock market history, acc to BBG. That’s more than mkt cap of ~90% of S&P 500 comps.
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