World News | More Drops in Big Tech Pull Stocks Lower; Bitcoin Drops 20%
Get latest articles and stories on World at LatestLY. US stocks are opening broadly lower, extending a weak streak into a third day.
Washington, May 19 (AP) US stocks are opening broadly lower, extending a weak streak into a third day.
The price of Bitcoin dropped another 20 per cent Wednesday, extending a sharp pullback in crypto assets over the past month, after China's banking association issued a warning over the risks associated with digital currencies.
Big Tech companies extended their declines on Wall Street. Amazon, Apple and Microsoft each fell more than 1 per cent. Coinbase, a cryptocurrency exchange operator that had an IPO last month, dropped 8 per cent.
The drop in Bitcoin follows a recent reversal by longtime Bitcoin advocate Tesla, which now says it will no longer accept Bitcoin as payment for cars. (AP)
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