Cryptocurrency market crash sparks investor panic.
Cryptocurrency and stock markets tumbled as Bitcoin's price plummeted. The global cryptocurrency market cap fell 6% to $2.5 trillion, while US stocks slid 1.5% amid concerns over inflation and interest rates. Investors sought safe-haven assets, driving gold prices up 1.4%. The Nasdaq Composite Index fell 2.5%, while the Dow Jones Industrial Average dropped 1.1%.