The cryptocurrency and stock markets have traditionally moved in opposite directions. But now, the biggest crypto crash since August arrives at a time when leading tech stocks are also in freefall.
The FAANG stocks - Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Netflix (NASDAQ:NFLX), and Google (NASDAQ:GOOGL) - have slumped by more than 20% since their peak, officially entering a bear market, as indicated by data from Google Finance. Facebook, beset by bad publicity as well, fell 36% from peak prices as October wiped out most of the year’s gains for the pack.
Crypto projects and ideas developed in a climate where tech solutions managed to increase productivity and marketing opportunities for years. But then, the hype and enthusiasm led to excessive valuations that sparked s...
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