Major stock indexes fell on Thursday as risk-off sentiment took hold, with the Nasdaq down about 1.1%, the S&P 500 down roughly 1%, and the Dow Jones Industrial Average down nearly 1%, trading near session lows. Bitcoin slipped below $66,000, its lowest level since October 2024, recently trading around $65,700. Investors weighed the latest Big Tech earnings and downbeat labor data as they reassessed risk assets.
Alphabet shares fell nearly 3% after a mixed fourth-quarter report, while management signaled 2026 capital expenditures between $175 billion and $185 billion, roughly double the 2025 level. Strategy (MSTR), the bitcoin treasury firm, sank about 14% ahead of its earnings after markets closed, underscoring how crypto-linked equities move with pricing and sentiment. The latest round of defections from bitcoin has come as investors have lately moved away from risk assets and, in some cases, shifted portfolio allocations toward more defensive plays.
Investors are eagerly awaiting results after the close today from Amazon. The bitcoin narrative today illustrates how macro risk-off sentiment can echo across crypto markets and related equities.
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