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FTSE 100 nursing triple digit loss as Wall Street slumps and cryptocurrencies plunge
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FTSE 100 nursing triple digit loss as Wall Street slumps and cryptocurrencies plunge
Global markets under pressure on inflation fears, while digital currencies slide after latest Chinese clampdown
FTSE 100 down 104 points
US stocks slide
3.21pm: Cryptocurrencies drop by a quarter
It is not just stock markets heading lower, so too are cryptocurrencies.
But the falls there are of a different order.
Bitcoin dropped by around 25% to below US$32,000 at one point today, and has now fallen more than 50% since its record highs.
It means the digital currency has also lost all the gains it made since Tesla’s billionaire boss Elon Musk revealed in February that the company had purchased around US$1.5bn worth of Bitcoin.