US Stock Market Suffers Historic $1.5 Trillion Loss

The US stock market suffered an unprecedented shock Friday morning as over $1.5 trillion vanished in market capitalization, signaling a 5.5% decline for the Dow Jones Industrial Average and a 6% drop for the S&P 500. The Nasdaq Composite, heavily reliant on tech, saw a further dip of 5.8%. This sell-off triggered the Nasdaq to enter bear market territory after a notable decline of over 20% from its peak level. Despite the turmoil in traditional markets, the cryptocurrency market proved resilient. Bitcoin and other digital assets held strong despite the turbulence in conventional financial settings.