Rough session for precious metals and Bitcoin as stocks sell off

Some of the speculative froth continues to slip away from stocks in early action on Monday morning. DJIA futures are down 2.1%, S&P 500 down 1.7%, and Nasdaq 100 down 1.5%.

Previous pandemic favorite, Nikola Corporation is off another 27% to $25, after its founder exits the company. The EV player was taken public via SPAC merger in April, and its stock subsequently rose about 9X to $94 in the space of a couple of months.

Proving again to be not much of a port in the storm during big stock market declines, gold (XAUUSD:CUR) is down 1.8% to $1,926 per ounce, silver (XAGUSD:CUR) is off 3.8% to $26.11, and Bitcoin (BTC-USD) is lower by 3% to $10,607.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.