Crypto stocks plunge amid Nasdaq correction, market rout

Crypto-related stocks experienced significant declines, with companies like Coinbase and Robinhood falling between 5-10% as broader U.S. equity markets entered a correction. This sell-off is part of a larger market downturn that has erased approximately $17 trillion from peak values across tech stocks, precious metals, and Bitcoin. The trend follows a pattern of Monday gains reversing into weekly losses, exacerbated by geopolitical tensions and renewed inflation concerns. Investors are increasingly anticipating potential interest rate hikes from the Federal Reserve, shifting sentiment from expected cuts.