Stocks closed broadly lower on Wall Street Wednesday, extending the market’s downturn to a third day. The price of Bitcoin and other cryptocurrencies dropped sharply in a surge of selling.
Bitcoin’s price was down 7% to just over $40,000, according to the crypto news site Coindesk, having swung in a huge range of as low as $30,202 and as high as $43,621 over the past day. The stock of the digital currency exchange operator Coinbase, whose website went down briefly in the morning, fell almost 6% and is down sharply from its IPO just over a month ago.
The S&P 500 fell 12.15 points, or 0.3%, to 4,115.68.
The Dow Jones Industrial Average fell 164.62 points, or 0.5%, to 33,896.04.
The Nasdaq fell 3.90 points, or less than 0.1%, to 13,299.74.
The Russell 2000 index of smaller companies fell 17.24 points, or 0.8%, to 2,193.64.
For the week:
The S&P 500 is down 58.17 points, or 1.4%.
The Dow is down 486.09 points, or 1.4%.
The Nasdaq is down 130.24 points, or 1%.
The Russell 2000 is down 30.99 points, or 1.4%.
For the year:
The S&P 500 is up 359.61 points, or 9.6%.
The Dow is up 3,289.56 points, or 10.7%.
The Nasdaq is up 411.46 points, or 3.2%.
The Russell 2000 is up 218.79 points, or 11.1%.