Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

US stock market sell-off continues, Bitcoin slumps

The S&P 500 has fallen to its lowest point since April 2021, reaching 4,000 points as the market fell another 3.2% overnight.

The combination of Chinese weakness, higher bond yields and growing uncertainty around growth has continued to push US stock markets lower.

The Dow Jones comparatively outperformed, falling 2%, with the Nasdaq suffering another 4.3% selloff.

Palantir at all-time low

Palantir (NYSE: PLTR), one of the companies that benefited from the dominance of technology post the pandemic, fell another 21% after reporting a weaker than expected outlook.

This sent Palantir shares down 60% for the year as the company posted quarterly revenue of US$446 million following a slowdown in government work for its data analytic software.

The company is guiding for US$470 million in revenue in the current quarter, below analyst expectations.

Bitcoin halves since November peak

Bitcoin has offered little in the form of a hedge, with the cryptocurrency down 10% overnight alongside the Nasdaq, moving below US$35,000 and taking the drop from the 2021 high to more than 50%.

Nearly every risk asset is being sold off in this environment, but it remains as important as ever to hold the course and rely on diversification amid what is ultimately a market still seeking direction.

US stock market movers

Here’s how other popular US stocks started the week.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to follow this negative lead from US markets to open lower this morning. For a round-up of the latest news, check out my ASX 200 morning report.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.


At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

Powered by

Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

Skip to content