Bitcoin fluctuations and economic concerns hit European stocks

European stock markets opened lower on Wednesday, influenced by Bitcoin’s volatility after a fake tweet about US SEC approval of Bitcoin ETFs.

The FTSE 100 in London fell 0.2%, Paris’s CAC dropped 0.1%, and Frankfurt’s DAX also saw a slight decrease.

Bitcoin’s price fluctuated significantly, briefly surging before falling back to $45,500, causing a $63 billion drop in market value.

This event came amid the World Bank’s bleak global economic outlook for 2024, forecasting a slowdown in growth.

US markets reacted variably, with the S&P 500 closing slightly lower, the Nasdaq slightly higher, and the Dow Jones slipping 0.4%.

© 2024 funds europe

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