Bitcoin, Global Stocks Plunge as US Presidential Debate Stoke Worries

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Bitcoin and global stocks fell hours after the first presidential debate between Donald Trump and Joe Biden concluded on a chaotic note. The benchmark cryptocurrency erased a significant portion of its Tuesday gains to turn 1.19 percent lower. At the same time, futures tied to America’s S&P 500 index plunged 0.85 percent, hinting to open in negative territory at the New York opening bell Wednesday. Asia-Pacific markets, including Australia’s ASX 200, Japan’s Nikkei, and China’s Shanghai Composite, also dropped. In Europe, futures linked to London’s FTSE were down 0.5 percent. Bitcoin erases intraday gains after a chaotic presidential debate round. Source: VIX The sell-off across the risk-on markets happened as investors reiterated their concerns over an uncertain US presidential election. Their negative sentiment took cues from Trump’s assertions of widespread voter fraud and his vows to actively challenge the outcome. VIX futures are rising as investors fear an uncertain…

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