U.S. Stocks Open Mixed as Crypto-Linked Equities Gain
On September 18, U.S. indexes showed divergent moves during Powell’s speech, with major crypto-related stocks largely declining, underscoring persistent volatility in the sector.
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Summary
On September 18, U.S. stock indexes recorded mixed results during Federal Reserve Chair Jerome Powell’s speech. The Nasdaq fell 1%, the S&P 500 declined 0.6%, and the Dow Jones edged up 0.05%. Crypto-related equities broadly dropped, including Coinbase (-3.72%), Circle (-3.61%), MicroStrategy (-2.52%), Bitmine (-2.77%), and BNB Network Company (-9.33%). Newly listed Gemini saw a steep decline of 14.58% and Figure fell 5.66%. Bullish was a notable exception, rising 4.88%.
Terms & Concepts
- Crypto-Linked Stocks: Publicly traded companies whose performance is influenced by cryptocurrency markets, such as exchanges, miners, or firms holding digital assets.