U.S. Stocks Open Lower as Bitcoin Hits All-Time High, Blockchain Stocks Strengthen
On March 11, the three major U.S. stock indexes opened lower, with the Dow Jones Industrial Average falling 0.27%, the Nasdaq Composite Index falling 0.20%, and the S&P 500 Index falling 0.29%. However, amidst this decline, Bitcoin broke through $72,000, setting another all-time high.
Interestingly, blockchain concept stocks collectively strengthened during this period. Companies like MicroStrategy saw a nearly 9% increase, while Canaan Technology rose more than 6%. Additionally, Coinbase and Marathon Digital also experienced significant gains of more than 5%.
Popular Chinese concept stocks also saw positive movement in the market. The Nasdaq China Golden Dragon Index rose nearly 2%, with companies like Bilibili increasing by more than 7%. Other Chinese companies such as Pinduoduo, Xpeng Motors, and JD.com also saw rises of more than 3%.
Overall, while U.S. stocks opened lower, the strength of blockchain concept stocks and the surge in Bitcoin’s price indicate a dynamic and evolving market landscape. Investors are advised to proceed with caution and consider the risks involved in trading in such volatile market conditions.
(Source: Jiemian News)