US stocks give up post-Trump election advance while Bitcoin clings to gain
What to know
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Both the Nasdaq 100 and S&P 500 have erased all gains since Donald Trump's November election victory.
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While giving up a substantial portion of its advance, bitcoin is still about 20% higher since Trump won the presidency.
The stock market tariff tantrum of the past few weeks has seen the Nasdaq 100 and S&P 500 give up all their gains since the early November election victory of Donald Trump even as bitcoin (BTC) remains in positive territory.
Both equity gauges are now more than 2% lower, while bitcoin is up over 20% in the same time frame.
Market leader Nvidia (NVDA), whose chips are in demand for uses in AI, for instance, is lower by more than 20% since Trump's triumph. On the flip side, Meta Platforms (META) is the stand out stock in the so-called magnificent seven technology companies having gained about 10%.
While bitcoin buyer Strategy (MSTR) is down over 50% from its all-time high in November, it remains up 20% since the election.
Though bitcoin bulls are surely disappointed in the price performance of late — the world's largest cryptocurrency has slumped about 20% from $109,000 the day before Trump was inaugurated on Jan. 20 — the current price of $88,000 is still up roughly 20% from its level just prior to the November election.
Author
CoinDesk Analysis Team
CoinDesk
CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.
