Stocks, Bitcoin Extend Losses as Traders Flee Risk: Markets Wrap
(Bloomberg) — The retreat from risk gathered pace across global markets on Tuesday, sending stocks deeper into decline and dragging Bitcoin toward the $90,000 mark.
S&P 500 futures fell 0.5% after the benchmark breached a key technical level in the previous session that signaled scope for further losses. Bitcoin slid another 1.5%. European stocks declined for a fourth day. Stock gauges across Asia were in the red, with Japan’s Nikkei 225 posting its worst day since April.
Bonds were the biggest beneficiaries as investors sought havens, with the yield on 10-year US Treasuries falling three basis points to 4.11%. The dollar was little changed. Gold fell for a fourth day, edging toward $4,000 an ounce.
The cross-asset moves underscored continued unease over interest rates and tech earnings, with Nvidia Corp.’s report on Wednesday poised to test investor nerves over lofty valuations in the artificial-intelligence sector. Focus will then turn to the delayed September jobs report due Thursday, a key gauge for the Federal Reserve’s policy outlook.
Meanwhile, initial jobless claims totaled 232,000 in the week that ended Oct. 18, according to the US Labor Department’s website.
“Volatility in the cryptocurrency space is spilling over to other risky assets,” said Homin Lee, a senior macro strategist at Lombard Odier. “The nervousness will persist until the September employment report provides greater clarity. Soft labor-market data or a large beat in Nvidia earnings could help.”
Alarm bells are ringing for analysts who study chart patterns in the US stock market, fueling concern that the latest dip could swell into a full-blown correction of at least 10%.
Monday’s selloff in the S&P 500 extended the decline from its last record on Oct. 28 to 3.2%. The benchmark index closed below its 50-day moving average for the first time in 139 sessions, breaking the second-longest stretch of this century above the closely-watched trend line.
“It has been a great year in general for investors, however nerves are clearly increasing,” said Nick Twidale, chief market analyst at AT Global Markets in Sydney. “We may see further volatility in the next few weeks as we hit the Christmas trading period.”
Some of the main moves in markets:
Stocks
S&P 500 futures fell 0.5% as of 3:25 a.m. New York time Nasdaq 100 futures fell 0.6% Futures on the Dow Jones Industrial Average fell 0.3% The Stoxx Europe 600 fell 1.3% The MSCI Asia Pacific Index fell 2.2% The MSCI Emerging Markets Index fell 1.7% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1603 The British pound rose 0.1% to $1.3170 The Japanese yen rose 0.2% to 154.97 per dollar The offshore yuan was little changed at 7.1139 per dollar Cryptocurrencies
Bitcoin fell 1.2% to $90,752.51 Ether rose 0.7% to $3,028.01 Bonds
The yield on 10-year Treasuries declined three basis points to 4.11% Germany’s 10-year yield declined one basis point to 2.70% Britain’s 10-year yield was little changed at 4.53% Commodities
West Texas Intermediate crude fell 0.7% to $59.49 a barrel Spot gold fell 0.6% to $4,021.97 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Anand Krishnamoorthy.
©2025 Bloomberg L.P.
