Should Stock Market Investors Care About the Crypto Crash?
The stock market saw more declines on Wednesday morning, as investors dealt with a massive sell-off in the cryptocurrency market. After having seen huge gains throughout much of 2021, many major crypto token prices have fallen 40% to 50% or more from their highest levels just a few weeks ago.
Declines in major stock market indexes weren't all that large, but they did continue a downtrend that's been pronounced recently. As of 11 a.m. EDT today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 463 points to 33,598. The S&P 500 (SNPINDEX: ^GSPC) had dropped 54 points to 4,074, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had declined 116 points to 13,187.
Certainly, some crypto-centered stocks took big hits because of the cryptocurrency crash Wednesday. However, the broader market has other issues that are affecting its performance and are likely to remain in play well into the future. Below, we'll look more closely at both aspects of the day's market moves.
Source Fool.com
