GM!
Today’s top news: – Crypto majors fall 4-6% as AI stocks crash; BTC at $76.1k – Over $1.1B in crypto longs liquidated on the day – Dems say they will investigate Trump business dealings, starting with WLFI – Solana Labs introduced Leap as a new mobile trading app – Lighter sees 2nd highest day of revenue since February 📉 Bitcoin Erases Election Rally as AI Stocks Crater On Wednesday, the market decided a Democratic Congress was good news
Stocks had their best day in three months, Bitcoin climbed back over $80,800, and Trump posted on Truth Social that the market “just hit another Record High” with 401(k)s “through the roof.” On Thursday, the market changed its mind. The S&P 500 fell 4.36%, its worst session since the Liberation Day tariffs in April 2025. The Nasdaq dropped 5.52% and closed in correction, more than 10% below its record from last month.
The Dow shed 1,833 points. The damage concentrated in one place. The iShares Semiconductor ETF fell more than 12%, its worst day since March 2020.