There’s something about the latest crypto crash that makes it different from previous downturns.
Artur Widak | Nurphoto | Getty Images
After finishing last month on a strong note, markets stumbled into December, tripped over by the sell-off in crypto.
All three major U.S. indexes snapped their 5-day winning streaks as bitcoin, the world’s largest cryptocurrency, dropped around 6% to trade below $86,000, putting downward pressure on the stock market.
It was bitcoin’s worst day since March. The digital currency late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark.
Even as odds for the Fed’s expected year-end Christmas gift of a rate cut rise, investors seem to have put crypto on the “naughty list.”
As we head deeper into December, could markets shake off the crypto chill, and will tech stocks be the heroes that keep pushing stocks higher? Watch this space.
What you need to know today
Musk throws support behind H-1B visas. Tesla CEO Elon Musk said that the U.S. has been a beneficiary of talent from India, saying “I’m certainly not in the school of thought that we should shut down the H-1B program,” adding that it would be “very bad.”
Nvidia-Synopsys partnership. The company announced Monday it has purchased $2 billion of Synopsys’ common stock as part of a strategic partnership to accelerate computing and artificial intelligence engineering solutions.
Crypto sell-off. Prices of bitcoin and ether plunged on Monday, recording a 5% and 7% fall respectively. A statement by the People’s Bank of China on Saturday warning of illegal activities relating to digital currencies heaped pressure on Hong Kong-listed shares of digital assets-related companies on Monday.
Markets slide. All three U.S. indexes tracked the losses in crypto and snapped five day winning streaks, with the Dow Jones Industrial Average recording the largest loss with a 0.9% fall. Over in Asia, markets also mostly rose, led by South Korea.
[PRO] Analysts positive on electric plane stock. Wall Street analysts are bullish on this electric airplane manufacturer, with Goldman Sachs, Morgan Stanley and Bank of America initiating coverage with a buy rating. Citi, which views the stock as a high risk, high reward, put a target price that suggests a 50% upside.
And finally…
SEOUL, SOUTH KOREA – DECEMBER 2: Samsung Electronics holds a Galaxy Z TriFold media day at Samsung Gangnam in Seoul, South Korea, on December 2, 2025. (Photo by Hwawon Ceci Lee/Anadolu via Getty Images)
Anadolu | Anadolu | Getty Images
Samsung launches its first multi-folding phone as competition from Chinese brands intensifies
Samsung Electronics on Monday announced the launch of its first multi-folding smartphone as it races to keep pace with innovations from fast-moving rivals.
The long-anticipated “Galaxy Z TriFold” will go on sale in South Korea on Dec. 12, with launches to follow in other markets including China, Taiwan, Singapore, and the United Arab Emirates, the company said in a press release.
The phone will be available in the U.S. during the first quarter of 2026, with more details to be shared later, the South Korean tech giant added. The Galaxy Z Trifold will ship as a single model in black with 16GB of memory and 512GB of storage, priced at 3,594,000 South Korean won ($2,449).
— Dylan Butts
