The Nasdaq Composite fell 5.5% on Thursday, its biggest one-day drop since April 2025, per Reuters as cited by Cointelegraph. CoinDesk reported the S&P 500 fell 4.3% and the Philadelphia Semiconductor Index dropped about 12%, with FalconX and GSR analysts linking the selloff to worries that a Democratic Congress could slow AI data-center buildout.
Why it mattersBitcoin's drop lined up with the equity move, a reminder that crypto still trades as a high-beta risk asset on stress days.
Glossary
- Beta
- How strongly an asset moves when a benchmark moves. A high-beta asset swings more than the market in both directions.
News summary written by fadeCT from the linked reporting. Not financial advice. The fadeCT take, when present, is opinion.