The post U.S. Equities and Cryptocurrencies Decline Amid Iran-Israel Tensions appeared on BitcoinEthereumNews.com.

TLDR U.S. stock indices closed negative due to Middle East tensions Iran reportedly launched missiles at Israel Bitcoin dropped to $60,246 before rebounding to $60,800 Crypto market overall value decreased 5.59% in 24 hours Gold and silver prices rose about 1% each On October 1, 2024, global financial markets experienced significant turbulence as tensions in the Middle East escalated. Reports of Iran launching missiles at Israel triggered a widespread sell-off in U.S. equities and cryptocurrencies, while safe-haven assets like gold saw modest gains. The U.S. State Department announced that Iran had launched nearly 200 ballistic missiles toward Israel. Israeli military spokesperson Daniel Hagari confirmed that while most attacks were intercepted, “a few hits” did occur. This news quickly rippled through financial markets, causing immediate reactions across various asset classes. In the stock market, major U.S. indices closed in negative territory. The Russell 2000 experienced the largest decline, dropping 1.48%. The tech-heavy Nasdaq Composite fell 1.53%, while the Dow Jones Industrial Average and S&P 500 lost 0.41% and 0.93% respectively. These losses reflect growing investor concerns about the potential for further conflict escalation in the region. The cryptocurrency market, often seen as a barometer for risk appetite, also felt the impact of the geopolitical tensions. Bitcoin, the largest cryptocurrency by market capitalization, initially dropped to a low of $60,246 before rebounding to around $60,800 by 5 p.m. EDT. Ethereum, the second-largest cryptocurrency, experienced a steeper decline of 6.5%, reaching an intraday low of $2,412 before slightly recovering to the $2,440 range. The overall cryptocurrency market capitalization decreased by 5.59% in the 24 hours following the news, falling to $2.12 trillion. Trading volume in the crypto market remained relatively low at $109.37 billion, although this figure was still 33.12% higher than on September 30. The subdued trading activity, combined with the price…

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Filed under: News - @ October 2, 2024 12:20 pm