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Stocks Rattled by Crypto, Earnings Woes Before CPI: Markets Wrap

  • Disney tumbles after earnings, Bitcoin falls below $16,000
  • Investor focus shifts to key inflation report due Thursday
Bloomberg business news
JPMorgan's Chang Says Stay Defensive, 'Long' Dollar
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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