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US close: Markets close firmer as Bitcoin bounces

by capitalizefinancial
May 25, 2021
in Markets
0
US close: Markets close firmer as Bitcoin bounces

Wall Street’s main market gauges finished in the green on Monday, after a weekend of wild gyrations in Bitcoin, and with traders wary that losses might ricochet against other segments of financial markets.

At the close, the Dow Jones Industrial Average was up 0.54% at 34,393.98, while the S&P 500 added 0.99% to 4,197.05 and the Nasdaq Composite advanced 1.41% to 13,661.17.

Over the weekend, Bitcoin fell from $38,000 to $31,000, before bouncing back to $38,563.79 at last count, according to Coindesk.

The selling pressure was not yet spilling over into other asset classes, although that could change upon a clean break below $30,000, according to Oanda’s senior Asia Pacific market analyst Jeffrey Halley.

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