Why American Bitcoin (ABTC) Stock Is Sliding Friday
Shares of American Bitcoin are trading lower Friday, pulling back from Thursday’s rally amid digital-asset weakness after labor market data.
Economy · News reference
Shares of software companies are trading lower after August's hotter-than-expected payrolls report increased expectations that the Federal Reserve could raise interest rates at its next meeting. A stronger U.S. dollar and higher rate expectations are weighing on growth stocks by reducing investor appetite for higher-risk assets.
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Shares of crypto-related companies are trading lower amid a decline in Bitcoin prices following August's hotter-than-expected payrolls report, which boosted expectations for a potential Federal Reserve rate hike at its next meeting. A stronger U.S. dollar and higher interest-rate expectations are further weighing on crypto and other risk assets by reducing investor appetite for speculative investments.
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