Markets Start Week With Sell-Off Led by Bitcoin and Nasdaq

Nasdaq started the week down 3% on Monday leading a market sell-off in futures across the board.

Stocks aligned with cryptocurrencies such as Coinbase and Core Scientific (–18.5%) fell even further.

Bitcoin also dropped more than 3% early after hitting a new record high earlier in January while the rest of the cryptocurrency market fell even further.

Tech stocks fell hard across the board, especially for U.S. based stocks tied to Artificial Intelligence on concerns that AI may not be led by United States innovators.

Analysts noted the correlation between the technology sector and digital assets as technology stocks and Bitcoin fell at a surprisingly similar pace.