Cryptocurrency Stocks Plummet as Nasdaq Falls 1.5%: Coinbase Sees 1.73% Decline

On May 23rd, COINOTAG reported a significant decline in major U.S. stock indexes, with the Dow Jones Industrial Average falling by 1.1%, the S&P 500 decreasing by 1.2%, and the Nasdaq Composite plummeting by 1.5%. This downward trend extended to cryptocurrency-related stocks, as major players faced losses: Coinbase (COIN) dropped 1.73%, MicroStrategy (MSTR) saw a dip of 2.8%, and Marathon Digital Holdings (MARA) fell sharply by 5.2%. Riot Platforms (RIOT) and Hut 8 Corp. (HUT) also reported notable declines of 3.9% and 4.2%, respectively. The tech sector mirrored this negative sentiment, with giants like Apple Inc. (AAPL.O) slipping 3.3%, amidst concerns of potential tariffs from the Trump administration. Other notable declines included Nvidia (NVDA.O) and Amazon (AMZN.O), both down by 2.2%, while Tesla (TSLA.O) receded by 1.4%.