US stocks declined as renewed selling in cryptocurrencies and disappointing earnings weighed on risk sentiment ahead of a key inflation report. The dollar gained for the first time in four days.
The S&P 500 put paid to a three-day rally, with all 11 major industry groups in the red. The tech-heavy Nasdaq 100 dropped the most among benchmarks, closing down 2.4%. Walt Disney Co. and News Corp. tumbled after posting results that fell short of expectations. Bitcoin dropped below $16,000 to a level not seen since 2020 amid a deepening selloff in cryptocurrencies as Binance walked away from its planned takeover of FTX.com.
