U.S. Stocks Slide Sharply as Tech and Crypto Equities Tumble

In Brief:

Dow, S&P 500, and Nasdaq fell 1.69%, 1.97%, and 2.7% respectively.

Crypto-linked stocks hit hard: MicroStrategy -10.84%, Coinbase -7.77%, MARA -8.58%.

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U.S. markets closed sharply lower on Friday, March 29, as investor sentiment soured amid continued macroeconomic concerns and risk-off positioning across both tech and crypto sectors.

The Dow Jones Industrial Average dropped 1.69%, the S&P 500 fell 1.97%, and the tech-heavy Nasdaq plunged 2.7%. This marks the third consecutive day of declines for major tech names, further intensifying concerns of a potential correction.

Crypto-related equities were hit especially hard. MicroStrategy (MSTR), known for its large Bitcoin holdings, fell 10.84%—one of the steepest losses among major U.S.-listed crypto firms. Coinbase (COIN) declined 7.77%, while MARA Holdings (MARA), a leading Bitcoin miner, dropped 8.58%.

Trump Media & Technology Group (DJT), recently in the spotlight after going public, also lost ground, falling 2.41%.

The sell-off extended to big tech, with Alphabet (GOOG) down 4.8%, Meta (META) sliding 4.2%, Tesla (TSLA) dropping 3.5%, and Apple (AAPL) down 2.6%.

Analysts attributed the broader downturn to persistent inflation worries, rising Treasury yields, and cautious outlooks ahead of upcoming economic data, including the U.S. Personal Consumption Expenditures (PCE) price index and potential tariff updates in early April.

Despite ongoing optimism in digital assets, Friday’s market action underscores the volatility still affecting crypto-adjacent stocks, especially when broader risk assets are under pressure.

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