Bitcoin Drops 15% in 48 Hours - Adviser Investments

Bitcoin Drops 15% in 48 Hours

Chris Hagan, vice president at Adviser Investments, has the market analysis for Thursday, September 6. The Dow Jones Industrial Average gained 0.1% while the S&P 500 and NASDAQ fell 0.4% and 0.9%, respectively. The tech-heavy NASDAQ’s decline was partly attributable to ongoing Congressional testimony from Twitter’s CEO Jack Dorsey and Facebook’s COO Sheryl Sandberg. Technology stocks declined about 2% this week—yet still remain up about 16% for the year. Meanwhile, the Department of Justice announced an investigation of alleged fraud at Wells Fargo’s wholesale banking unit. We also saw Bitcoin continue its decline, dropping more than 15% over 48 hours.

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