#CryptoMarketDip

The ongoing correction in the crypto market mirrors the weakness witnessed in US equities. The S&P 500 dropped by 1.1% to close the day at 5,509.03 on Jan. 7, while the Nasdaq composite index declined by 375 points. 

The Dow Jones index clocked its second consecutive daily loss, dropping 0.61% to close the trading day on Jan. 7 at 42,528.36. 

“The S&P 500 is now down 75 points today and has erased its year-to-date gain,” said capital markets commentator The Kobeissi Letter in response to the market’s reaction to the economic data prints.