Up more than 1% at its best levels on Monday, the Nasdaq steadily lost ground throughout the afternoon hours, closing roughly unchanged for the day.
The S&P 500 fell 0.15%, and the DJIA dropped 0.6%.
The rally began early in the morning as oil dipped by about $3 per barrel to below $80 on a report that Iran was seeking to renew ceasefire talks.
That report failed to have legs, though, with WTI crude rising back to about one-month highs of $82.50.
Alongside, the 10-year U.S. Treasury yield gained five basis points to 4.59%, with short-term rate traders ratcheting up July Fed rate hike odds to 16% and September rate hike odds to 63%, according to CME FedWatch.
The risk selloff dented bitcoin’s tepid rally to a new one-month high of $65,700, the price falling back to $65,000 as stocks closed for the day.
While shares have come under major pressure in recent weeks, today’s announcement shows that IREN is continuing to make progress behind closed doors, said longtime bull Brett Knoblauch at Cantor.
The company, said Knoblauch, has access to significant amounts of power with the most compute available to sell in coming years. Its customer base is expanding as prices rise.
IREN is up by 21% on Monday to $40.70, but remains well off May highs closer to $70.
Read more: AI compute stocks bounce as Hut 8, IREN land billions in new contracts
Crypto exchange OKX has appointed former New York Governor Andrew M. Cuomo to its Board of Directors, formalizing a relationship that began in 2023 when he started advising the company on U.S. regulatory and institutional strategy.
The move comes as OKX expands its U.S. presence and broadens its focus beyond crypto trading into financial infrastructure. Cuomo co-chairs the recently announced OKX and Intercontinental Exchange (ICE) joint venture, which aims to connect traditional and digital financial markets through regulated blockchain infrastructure. Subject to regulatory approvals, the venture plans to support tokenized markets and expand institutional access to digital assets.
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