The stock market, which had been at all-time highs, seemed to be feeling the pain from a big plunge in bitcoin prices over the weekend.
 | MON, APR 19, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 134.84 | +0.68 | +0.51% | | INTC | 63.63 | -1.12 | -1.73% | | MSFT | 258.74 | -2.00 | -0.77% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 134.84 | +0.68 | +0.51% | | GE | 13.46 | +0.07 | +0.52% | | VIAC | 38.40 | -0.95 | -2.41% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 134.84 | +0.68 | +0.51% | | TSLA | 714.63 | -25.15 | -3.40% | | AMD | 81.11 | -1.04 | -1.27% | |
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The stock market, which had been at all-time highs, seemed to be feeling the pain from a big plunge in bitcoin prices over the weekend. At one point, the world's largest cryptocurrency dropped about 20% from its peak above $64,000. It stabilized on Monday, trading at around $56,000, according to data from Coin Metrics.  Tesla, which bought $1.5 billion worth of bitcoin and said it will start accepting the digital coin as payment, fell more than 3% on Monday. Coinbase, a cryptocurrency trading platform that made its public debut last week, dropped over 2%. Some traders attributed the overall weakness and market volatility to the swift retreat in bitcoin, which has become a poster child for speculative behavior on Wall Street. "Whenever a headline-grabbing asset sees a big decline at a time when the broad market stands at an expensive level, it usually has a negative impact on the stock market even if it's only short-lived," said Matt Maley, chief market strategist at Miller Tabak. The Dow Jones Industrial Average and the S&P 500 slipped from their record highs reached in the previous session, while the tech-heavy Nasdaq Composite was the relative underperformer, sliding about 1% on Monday. |
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