Amidst a massive sell-off in both equities and crypto markets, the Nikkei 225 plummeted by 12.4%, with Robinhood halting its 24-hour trading session in pre-market due to volatility. The S&P 500 is down 3%, and the Nasdaq dropped by 3.43%. $BTC briefly fell below the $50k mark but has rebounded to $53,979, while $ETH is down 10.1%, now trading at $2,415.
As investors unwind the Yen carry trade, the Nikkei 225 experienced its worst day since 1987, dropping 12.4% in a single day. The market is now pricing in more than a 90% chance of a 50bps rate cut in September, with some speculating about a potential emergency rate cut before the scheduled meeting.
Key headlines include AAVE profiting $6M from liquidations, BlackRock's Spot BTC ETF $IBIT hitting a trading volume of $2.2B, and Zircuit announcing the launch of Mainnet Phase 1.
During the last 24 hours, the top three gainers were $TRIBE, $SATS, and $HNT, while the top three losers were $POPCAT, $W, and $AEVO.
