Bitcoin the world’s best-known cryptocurrency, fell more than 10 percent on Monday and approached three-month lows on concerns about a global regulatory clampdown on the trading of the digital coins.
The currency, which surged more than 1,300 percent last year, has lost almost half its value so far in 2018, as more governments and banks signal their intention to crack down. Last week it suffered its worst weekly performance since 2013.
Other cryptocurrencies also suffered double-digit declines in their prices on Monday, according to industry tracker Coinmarketcap.com.
Stocks close lower in choppy session as higher rates snuff out rally
U.S. equities pulled back on Thursday as investors worried about rising interest rates.
The S&P 500 declined 0.1 percent to close at 2,821.98 after rising as much as 0.4 percent. The Nasdaq composite fell 0.4 percent to 7,385.86. Earlier, the tech heavy index traded 0.4 percent higher as Facebook shares hit an all-time high. Facebook reported better-than-expected earnings and revenue on Wednesday.
The Dow Jones industrial average closed 37.32 points higher at 26,186.71. It rose as much as 157.31 points and traded as much as 134.95 points lower.