bitcoin
Morning Minute: Bitcoin Erases Election Rally as AI Stocks Crater
Thursday marked a massive reversal and historic selloff for AI stocks, and crypto was not immune.
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Stocks had their best day in three months, Bitcoin climbed back over $80,800, and Trump posted on Truth Social that the market “just hit another Record High” with 401(k)s “through the roof.” On Thursday, the market changed its mind.
The S&P 500 fell 4.36%, its worst session since the Liberation Day tariffs in April 2025. The Nasdaq dropped 5.52% and closed in correction, more than 10% below its record from last month.
The damage concentrated in one place. The iShares Semiconductor ETF fell more than 12%, its worst day since March 2020. Micron lost 17.5%, AMD 17.3%, Marvell 16.4%, Nvidia 9.3%.
